Sponsors (2)
The bill ensures continuous NFIP coverage and FEMA's ability to pay flood claims (including retroactive coverage) through Sept 30, 2025, at the cost of extending federal borrowing and postponing long-term NFIP reforms that affect premiums and flood mapping.
Homeowners and renters in flood-prone areas retain the ability to buy and keep NFIP flood insurance policies through Sept 30, 2025, preventing immediate loss of coverage.
State and local governments and flood claimants benefit because FEMA's borrowing authority to pay NFIP claims is extended through Sept 30, 2025, reducing the risk of claim payment delays after major floods.
Homeowners and renters who experienced flood events between March 14, 2025 and enactment keep coverage and claims eligibility retroactively, preventing gaps in protection and payment authority for those events.
Homeowners, renters, and other policyholders face delayed resolution of long‑term NFIP issues (such as premiums and flood mapping) because the extension pushes off congressional action on structural reforms.
All taxpayers face continued federal borrowing and potential fiscal exposure if NFIP losses require additional borrowing through Sept 30, 2025, which could increase deficits or future tax pressures.
Based on analysis of 2 sections of legislative text.
Extends NFIP statutory expiration and borrowing-authority date limits two years to Sept 30, 2025, effective retroactively to Mar 14, 2025 if needed.
Extends the federal flood insurance program's borrowing authority and statutory expiration date by two years, keeping current NFIP financing limits and authorities in place through September 30, 2025. The change is made retroactive to March 14, 2025 if the law is enacted after that date, so there is no gap in the program's authority during that period. This preserves the National Flood Insurance Program's ability to issue new policies and to borrow from the Treasury under existing caps while Congress considers longer-term changes.
Official title: Reauthorize the National Flood Insurance Program.
Introduced March 4, 2025 by John Neely Kennedy · Last progress March 4, 2025