Flood Insurance Extension Update: June 7, 2019
On June 6, 2019, the National Flood Insurance Program was extended to September 30, 2019. The extension was attached to a broader disaster aid package, HR 2157
In addition, House Financial Services Chairwoman Maxine Waters (D-CA) and Ranking Member Patrick McHenry (R-NC) unveiled long-term reauthorization and reform legislation, and scheduled a mark up for Tuesday, June 11, 2019. In the links listed below you will find the bill text, an amendment in the nature of a substitute (AINS), and a section-by-section summary.
NAR issued the following Press Statement on the bipartisan flood insurance agreement:
“The National Association of Realtors® applauds Chairwoman Waters and Ranking Member McHenry for working towards a bipartisan, long-term solution for the National Flood Insurance Program,” Smaby, a second generation Realtor® and broker at Edina Realty in Edina, Minnesota, said. “This legislation addresses many critical NAR priorities, including long-term reauthorization, strengthening mapping and mitigation, and facilitating a more robust private insurance market. While we continue reviewing this bill, NAR thanks the Chairwoman and Ranking Member for their genuine efforts to move comprehensive reauthorization legislation forward.”
For additional information, please visit the National Flood Insurance Program page.
For information on how flooding has effected Colorado, read this report compiled by NAR.
Watch(link is external) the House Financial Services Committee Markup of the flood bill on Tuesday, June 11 at 2:00 p.m. EST.