One-Month NFIP Extension Anticipated

The U.S. House of Representatives is expected to vote on H.R. 5740 today, a measure to push back the NFIP deadline one month, from May 31 to June 30. 

The House passed reform legislation that included an extension through 2016 by a wide majority, 406-22, last July. However the Senate has provided a roadblock for that bill.

In recent weeks, advocacy groups and representatives from insurance, real estate and environmental industries, including PCI and IIABA, have been outspoken. One week ago today, a Senate Banking hearing gave these groups a chance to present their cases for a long-term extension.

Despite the fact that the Senate has had 10 months to move on H.R. 1309 or a substitute, H.R. 5740 author Rep. Judy Biggert (R-Ill.) hopes the extra month proposed in H.R. 5740 aims to give the senate more time to work with the long-term extension passed in the House.