National Flood Insurance Program extended
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WASHINGTON—President Obama on Friday signed into law a measure that extends the National Flood Insurance Program through Sept. 30.
The House passed the National Flood Insurance Program Act of 2010 on June 23, and the Senate followed suit a week later. The Senate initially had considered a broader tax bill that included extension of the NFIP, but that measure was pulled because it could not draw enough support to overcome a filibuster aimed at other provisions in the bill.
The NFIP lapsed on June 1 and will have to be reauthorized by Sept. 30 to prevent another lapse.
The House and Senate have been unable to reach agreement on a long-term reauthorization of the NFIP because the House favors requiring the program to offer windstorm and flood coverage, while the Senate has preferred restricting the program to flood coverage only. The result of the disagreement has been a series of short-term extensions.
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