ABSTRACT

Selected Issues for National Flood Insurance Program (NFIP) Reauthorization and Reform: Homeland Security Issues in the 116th Congress [Updated October 5, 2020]   [open pdf - 629KB]

From the Document: "The National Flood Insurance Program (NFIP) is the primary source of flood insurance for residential properties in the United States. The NFIP has more than 5 million flood insurance policies providing over $1.3 trillion in coverage, with 22,493 communities in 56 states and jurisdictions participating. Since the end of FY2017, 16 short-term NFIP reauthorizations have been enacted, and the NFIP is currently authorized until September 30, 2021. Unless reauthorized or amended by Congress, on September 31, 2021, (1) the authority to provide 'new' flood insurance contracts will expire and (2) the authority for the NFIP to borrow funds from the Treasury will be reduced from $30.425 billion to $1 billion."

Report Number:
CRS Insight, IN11050
Author:
Publisher:
Date:
2020-10-05
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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