Sponsors (8)
The bill preserves short-term access to NFIP coverage and FEMA's borrowing authority to ensure claims are paid, but it extends taxpayer exposure to program debt and delays longer-term reforms that would better align premiums and risk allocation.
Homeowners with NFIP policies can continue to buy or renew federal flood insurance through Dec 31, 2026, preserving access to coverage after floods.
FEMA retains authority to issue notes and obligations for the NFIP through Dec 31, 2026, supporting program liquidity so claims can be paid promptly after disasters.
Taxpayers remain exposed to NFIP program debt and potential future bailouts if claims exceed reserves, increasing federal fiscal risk.
Homeowners in high-risk flood areas face delayed longer-term reform, prolonging existing premium pricing and risk-allocation issues that can leave them underinsured or paying rates that don't reflect true risk.
Based on analysis of 2 sections of legislative text.
Moves two NFIP expiration and borrowing-cap dates from Sept 30, 2023 to Dec 31, 2026 so the program can keep issuing policies and borrow under the temporary cap.
Extends two expiration dates in the National Flood Insurance Act so the National Flood Insurance Program (NFIP) can continue issuing new flood insurance contracts and borrow under its temporary dollar-cap regime through December 31, 2026. The change preserves the program’s current authorities without changing premiums, program structure, or creating new reforms.
Introduced April 10, 2025 by Troy Carter · Last progress April 10, 2025