Sponsors (2)
The bill preserves short-term access to flood insurance and program liquidity through Sept 30, 2025, but increases taxpayer exposure and risks delaying needed long-term NFIP reforms and certainty.
Homeowners and renters can continue to purchase or renew National Flood Insurance Program (NFIP) policies through September 30, 2025, preserving access to flood insurance coverage.
FEMA may continue to issue notes and obligations and use statutory borrowing authority through September 30, 2025, maintaining NFIP liquidity so claims can be paid and operations continue uninterrupted.
Taxpayers (including middle-class families) could face increased financial exposure if NFIP borrowing grows to cover large disaster claims during the extension period.
Homeowners and state governments may face continued uncertainty about the NFIP's long-term structure and reforms if the extension delays or postpones permanent changes beyond 2025.
Based on analysis of 2 sections of legislative text.
Extends key National Flood Insurance Program (NFIP) statutory dates from September 30, 2023 to September 30, 2025, keeping the program’s borrowing authority limits and restrictions on new contracts in place through 2025. If enacted after March 14, 2025, the change is retroactive to that date. The amendment modifies two provisions of the National Flood Insurance Act of 1968 that govern the program’s authority to issue notes/obligations and the cutoff date for entering new flood insurance contracts, effectively preventing expiration of those authorities in 2023 and maintaining program operations through the new 2025 date.
Extends two NFIP statutory dates from Sept 30, 2023 to Sept 30, 2025, with retroactive effect to March 14, 2025 if necessary.
Official title: To amend the National Flood Insurance Act of 1968 to reauthorize the National Flood Insurance Program.
Introduced March 14, 2025 by Andrew R. Garbarino · Last progress March 14, 2025