National Flood Insurance Program Extended

The omnibus spending bill recently signed into law extends the NFIP’s authorization until July 31. This new deadline comes immediately before the August Congressional recess and falls as we enter the height of hurricane season, meaning pressure to reauthorize without a lapse will be high.  This July 31 date, which decouples the NFIP from the omnibus spending bill, increases pressure on the Senate Banking Committee to produce legislation, as the House has already acted.