Two members of the U.S. House Committee on Financial Services – Chairman Maxine Waters, D-California, and Ranking Member Patrick McHenry, R-North Carolina, announced that they’ve introduced legislation (H.R. 2578) to extend the National Flood Insurance Program’s (NFIP) authorization to Sept. 30, 2019.
The current NFIP authorization expires on May 31.
“We have introduced legislation to extend the NFIP’s authorization to Sept. 30, 2019,” Waters said in a statement. “It is important that Congress does not allow the National Flood Insurance Program to lapse. This extension prevents harm to homeowners and the housing market while also providing time to reach bipartisan consensus on much-needed reforms to the program.”
Waters says that the committee remains “committed to a long-term bipartisan flood insurance reauthorization bill and will continue to work together toward that goal.”