NATIONAL FLOOD INSURANCE PROGRAM SET TO EXPIRE SEPTEMBER 30, 2011

Although the House approved the bipartisan Flood Insurance Reform Act of 2011 in July, which would extend the NFIP through September 30, 2011, the Senate has yet to pass the bill.  The Senate was scheduled to address legislation extending the NFIP before adjourning for its summer recess from August 3rd through Labor Day, but it did not. Now the legislation is on hold until September and there will only be a few weeks for senators to move a bill through committee, hold a floor vote, and reconcile any differences between the Senate bill and the House bill before the program expires on September 30.  If the Senate is unable to pass a long-term extension along with proposed improvements to the Program before September 30, 2011, lawmakers may agree to a short-term extension of the NFIP so there will be no lapse.