This proposed legislation would reauthorize the NFIP over a 10-year term (2017-2027), which is needed to avoid short-term extensions and program lapses that create uncertainty in both the insurance and housing markets.
This legislation also takes to reform the program by addressing:
- Affordability and accessibility
- Solvency and sustainability
- Private market access, accountability, and competition
- Flood mapping and flood risk accuracy
- Transparency and accountability
To review of the Draft legislation, click here.