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House passes disaster aid bill, extends NFIP to Sept. 30
The House Monday approved the Senate's disaster aid package, which extends the National Flood Insurance Program (NFIP) to Sept. 30. The program was previously set to expire May 31, but, ahead of the deadline, Congress last week passed a short-term extension to June 14 to prevent a lapse and give the House time to clear the disaster package.
The $19.1 billion disaster relief bill includes funding to help communities recover from recent wildfires, hurricanes and flooding, and more. Although it does not include immigration provisions requested by the Trump administration, the president is expected to sign the measure.
In addition to advocating for reauthorization of the NFIP, NAFCU has pushed for a number of improvements to the program, including increases in coverage limits, capping premiums and rates, updating federal flood mapping procedures and allowing private policies to fulfill the federal flood insurance mandate.
The association will keep credit unions updated as Congress considers reforms and future reauthorizations.