Sponsors (8)
The bill preserves short-term access to flood insurance and NFIP liquidity, but sustains taxpayer exposure to program debt and delays longer-term reforms that would better align premiums with flood risk.
Homeowners with NFIP policies can continue to buy and renew flood insurance through Dec 31, 2026, preserving access to coverage after this bill.
Taxpayers and disaster-affected communities benefit from FEMA retaining authority to issue notes/obligations, supporting NFIP liquidity so claims can be paid after major disasters.
Taxpayers remain exposed to NFIP debt and potential future bailouts because the extension preserves FEMA's borrowing authority without comprehensive fiscal reforms.
Homeowners in high-risk flood areas may face prolonged mispriced premiums and unclear risk allocation because the extension delays longer-term NFIP reform.
Based on analysis of 2 sections of legislative text.
Extends the National Flood Insurance Program's temporary borrowing cap and the program's authorization date from September 30, 2023 to December 31, 2026, allowing the program to enter into new flood insurance contracts and continue using its note/obligation authority through the end of 2026. This change prolongs existing NFIP authorities without changing program terms or benefits.
Extends NFIP's authority to issue notes and the program's authorization to enter new contracts from Sept 30, 2023 to Dec 31, 2026.
Official title: To extend the National Flood Insurance Program through December 31, 2026.
Introduced April 10, 2025 by Troy Carter · Last progress April 10, 2025