Sponsors (3)
The bill preserves near-term access to federally backed flood insurance and program liquidity through the end of 2026, at the cost of extending federal borrowing exposure and slowing private-market entry for flood coverage.
Homeowners in flood-prone areas can purchase or renew National Flood Insurance Program (NFIP) policies through December 31, 2026, preserving access to federally backed flood coverage.
FEMA retains authority to issue notes and obligations to fund the NFIP through December 31, 2026, helping ensure program liquidity and the ability to pay large or unexpected claims.
All taxpayers may remain responsible for NFIP borrowing and any associated interest/costs for an additional three years, increasing federal fiscal exposure.
Small-business owners and private insurers face delayed market opportunities because the extended availability of NFIP for new contracts can slow private flood-insurance market growth.
Based on analysis of 2 sections of legislative text.
Extends two statutory NFIP expiration dates from Sept 30, 2023 to Dec 31, 2026, preserving certain Administrator authorities and allowing new flood insurance contracts through that date.
Extends two expiration dates in the National Flood Insurance Act, moving statutory cutoff dates from September 30, 2023 to December 31, 2026. That change preserves the Administrator’s authorities tied to Treasury-note borrowing limits and allows new flood insurance contracts to be entered through the new December 31, 2026 date.
Introduced March 13, 2025 by Bill Cassidy · Last progress March 13, 2025