Posted on 25 Feb 2009
Under the omnibus spending bill revealed by House Democrats on Monday, the National Flood Insurance Program (NFIP) would be extended in its current form until Sept. 28.
Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, earlier this month said the extension is designed to provide time for the House and Senate to reconcile their differences over the future of the program, especially the House demand that the program be expanded to include wind coverage.
The program was initially extended in its present form until March 6 after the House and Senate could not reconcile substantive differences between bills designed to reform and extend the program for several years.
The House plans to vote on the measure today and the Senate will consider it before March 6, according to sources.