Sponsors (8)
The bill preserves near-term access to federally backed flood insurance and disaster-assistance eligibility to avoid market and local recovery disruption, but it prolongs federal fiscal exposure and delays opportunities for meaningful NFIP reform.
Homeowners, property buyers, mortgage lenders, and insurers keep uninterrupted access to NFIP flood insurance and related transaction support through Dec 31, 2026, preventing sudden loss of coverage and real-estate market disruptions in flood zones.
Local governments retain eligibility for post-disaster assistance and planning tied to NFIP participation for an additional three years, helping communities recover from floods and continue mitigation and planning activities.
Taxpayers face continued fiscal exposure because NFIP subsidies, operating costs, and borrowing authority remain in place through Dec 31, 2026, potentially increasing federal costs.
Policyholders, taxpayers, and future NFIP stakeholders lose near-term opportunities for comprehensive reform (for example to address insolvency or move to actuarially based rates) because the extension delays policy changes.
Based on analysis of 2 sections of legislative text.
Replaces the NFIP's statutory Sept 30, 2023 deadlines with Dec 31, 2026, extending the program's borrowing authority and legal expiration through 2026.
Extends the National Flood Insurance Program's borrowing authority and the program's statutory expiration date by replacing September 30, 2023 with December 31, 2026 in two provisions of the National Flood Insurance Act of 1968. The change keeps the NFIP operating and able to borrow from the Treasury through the end of 2026 so flood insurance policies can continue to be issued and claims paid under current law.
Introduced April 10, 2025 by Troy Carter · Last progress April 10, 2025