Sponsors (3)
The bill preserves NFIP coverage availability and short-term funding flexibility through the end of 2026, protecting homeowners and program solvency in the near term while extending federal borrowing risk and delaying private-market growth in flood insurance.
Homeowners in flood-prone areas can continue to purchase or renew National Flood Insurance Program (NFIP) policies through December 31, 2026, maintaining access to federally backed flood coverage.
Taxpayers and program beneficiaries benefit from FEMA retaining authority to issue notes/obligations to fund the NFIP through December 31, 2026, supporting the program's liquidity and ability to pay claims in high-claim years.
Taxpayers remain potentially liable for additional NFIP borrowing and the associated interest/costs for an extra three years, increasing federal fiscal exposure.
Private-market flood insurers and small-business owners offering private coverage face delayed market opportunities because extended NFIP availability can slow private-sector expansion into flood insurance.
Based on analysis of 2 sections of legislative text.
Shifts two NFIP statutory dates from Sept 30, 2023 to Dec 31, 2026, extending FEMA authorities and the period for issuing new flood insurance contracts.
Official title: Extend the National Flood Insurance Program through December 31, 2026.
Introduced March 13, 2025 by Bill Cassidy · Last progress March 13, 2025
Extends two statutory expiration dates in the National Flood Insurance Act of 1968 by moving dates that previously referred to September 30, 2023 to December 31, 2026. The change preserves existing FEMA authorities tied to Treasury-note limits and delays the cutoff date after which no new National Flood Insurance Program (NFIP) policies may be issued until the end of 2026.