National Flood Insurance Program Borrowing Authority [July 31, 2018]   [open pdf - 110KB]

"Funding for the NFIP (National Flood Insurance Program) is primarily maintained in an authorized account called the National Flood Insurance Fund (NFIF). Generally, the NFIP has been funded from receipts from the premiums of flood insurance policies, including fees and surcharges; direct annual appropriations for specific costs of the NFIP (currently only flood mapping); and borrowing from the Treasury when the balance of the NFIF has been insufficient to pay the NFIP's obligations (e.g., insurance claims). Key provisions of the NFIP were extended from September 30 until December 8, 2017 (Section 130 of P.L. 115-56), extended again until December 22, 2017 (P.L. 115-90), and again until January 19, 2018 (P.L. 115-96). The NFIP lapsed between January 20 and January 22, 2018, and received a fourth short-term reauthorization until February 8, 2018 (P.L. 115-120). The NFIP lapsed again for approximately eight hours during a brief government shutdown in the early morning of February 9 and was then reauthorized until March 23, 2018 (P.L. 115-123). The NFIP received a sixth reauthorization until July 31, 2018 (P.L. 115-141), and a seventh reauthorization until November 30, 2018 (P.L. 115-225). However, these extensions did not increase the NFIP's borrowing limit or provide additional funds to the NFIP."

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CRS Insight, IN10784
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