NFIP extended- but only for 2 weeks
The NFIP, which was set to expire Friday at midnight, has been extended for two weeks, to June 14th. We did not raise alarms earlier this week because of how fluid this situation has been.
A few weeks ago, both chambers of Congress passed a four-month extension of the NFIP in disaster supplemental bills. The Senate also passed a standalone two-week extension of the NFIP in an effort to ensure the program would not lapse if the disaster supplemental legislation was blocked, which it has been three times now.
Last week Congress went on Memorial Day recess with the expectation that the House of Representatives would be able to pass the Senate version of the disaster supplemental or the two-week flood extension. Over the last week, a handful of Members of Congress have objected to both bills, blocking their passage by unanimous consent, until today where only the two week extension passed.
We hope that in two weeks, we can avoid the confusion leading up to the expiration of the NFIP and get a clean extension to allow for continued reforms.
