Sponsors (7)
The bill preserves short-term access to and payment of NFIP flood insurance claims (including retroactive coverage protection) but does so by extending FEMA's borrowing authority, increasing federal liabilities and potentially delaying longer-term solvency and pricing reforms.
Homeowners and renters in flood-prone areas keep access to NFIP flood insurance through Sept 30, 2026, and the bill's retroactive Jan 30, 2026 effective date prevents coverage or funding gaps if enacted after that date.
FEMA retains temporary borrowing authority to pay claims and manage the NFIP through Sept 30, 2026, reducing the risk of payment delays and immediate program disruptions after major floods.
Taxpayers face higher federal liabilities because extending FEMA's borrowing authority increases the likelihood the government will cover large claims through additional borrowing.
Homeowners, renters, and taxpayers may suffer longer-term consequences because keeping NFIP authority in place without reforms can delay needed changes to program solvency and accurate flood-risk pricing.
Based on analysis of 2 sections of legislative text.
Extends NFIP borrowing authority and the program’s ability to enter new policies from Sept 30, 2023 to Sept 30, 2026, with retroactivity to Jan 30, 2026 if needed.
Extends the National Flood Insurance Program's authority to issue borrowing notes and to enter into new flood insurance contracts through September 30, 2026, replacing an earlier statutory expiration date of September 30, 2023. If the bill is enacted after January 30, 2026, the extension is applied retroactively to January 30, 2026 to avoid gaps in authority. The change preserves FEMA's ability to finance claims and keeps the NFIP open for new policies and renewals through fiscal year 2026, maintaining continuity for homeowners, renters, mortgage lenders, and local governments in flood-prone areas.
Official title: To amend the National Flood Insurance Act of 1968 to reauthorize the National Flood Insurance Program.
Introduced September 26, 2025 by Andrew R. Garbarino · Last progress September 26, 2025