12
Jun
U.S. House Leaders Agree on Long-Term Flood Insurance Deal
From NAHB Now
In an important victory for NAHB, House Financial Services Committee Chair Maxine Waters (D-Calif.) and Ranking Member Patrick McHenry (R-N.C.) have reached an agreement on a five-year reauthorization of the National Flood Insurance Program (NFIP) through Sept. 30, 2024.
For the past seven years, NAHB has made passage of a long-term NFIP reauthorization a top legislative priority to ensure that federally backed flood insurance remains available, affordable, predictable and financially stable. During this time, the program had 12 short-term extensions. The most recent occurred last week when Congress approved disaster relief legislation that provides a four-month extension of the NFIP through Sept. 30.