Thanks in large part to NAHB’s efforts, the House and Senate have approved legislation that extends funding for the National Flood Insurance Program
(NFIP) for another two weeks through June 14, 2019.
Absent congressional action, funding would have expired for the program on May 31.
Two previous efforts by the House to pass the two-week extension by a unanimous voice vote failed when three Republican lawmakers dissented. NAHB sent a letter on May 29 to members of the House Republican leadership calling this "unacceptable." We also stated it is critical that Congress pass a short-term extension immediately to avoid a lapse in the program and to prevent disruption to the housing market.
In addition, builders from Texas, Kentucky, North Carolina and West Virginia reached out to Reps. Chip Roy (R-Texas), Thomas Massie (R-Ky.), David Rouzer (R-N.C.) and Alex Mooney (R-W.Va.) and succeeded in urging the lawmakers to drop their opposition to the flood extension measure.
With the House out of session until the week of June 3, the 14-day extension gives lawmakers more time to approve disaster relief legislation that calls for the NFIP to be reauthorized through Sept. 30, 2019.
Congress requires all properties within the 100-year floodplain that are purchased with a federally backed mortgage to carry flood insurance. So it is essential that authorization for the program does not lapse.
NAHB continues to work with Congress to achieve a long-term reauthorization of the NFIP that will keep the program fiscally sound and let builders provide safe and affordable housing.
For more information, contact Jessica Hall
at 800-368-5242 x8253.