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House Passes Flood Insurance Extension

Posted on 5/31/2012

The House last night passed by voice vote a bill (H.R. 5740) that will extend the National Flood Insurance Program (NFIP) for 60 days and phase out premium-rate subsidies for people buying second homes and vacation homes in flood-prone areas. The bill is now cleared for the President's signature.

Senate Majority Leader Harry Reid (D-NV) has agreed to schedule floor debate in June on the Senate Banking Committee's five-year reauthorization bill. The House passed a five-year NFIP reauthorization and reform bill (H.R. 1309) last summer.



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