House committee passes bipartisan NFIP reform bill
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The U.S. House of Representatives Financial Services Committee on Wednesday unanimously approved a bill that would reauthorize the National Flood Insurance Program for five years and implement reforms and new funding for mapping and mitigation activities.
H.R. 3167, the National Flood Insurance Program Reauthorization Act of 2019, was introduced by Rep. Maxine Waters, D-Calif., chairwoman of the financial services committee, and was adopted on a bipartisan 59-0 vote. Early reactions to the bill have been mostly positive although it does not deal with the divisive issue of how to address the program’s nearly $21 billion debt.
Separately, the committee also adopted H.R. 3111, the National Flood Insurance Program Administration Reform Act of 2019, which would improve the NFIP’s appeals and litigation process following the flaws identified in the oversight, accountability and transparency of the claims process in the aftermath of Superstorm Sandy. This bill was introduced by Rep. Nydia Velazquez, D-N.Y., and passed unanimously in the committee on a bipartisan 58-0 vote.
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