WASHINGTON–In a breakthrough, the Senate leadership is clearing the decks for consideration of legislation intended to reform and reauthorize the National Flood Insurance Program (NFIP) as early as Tuesday, according to an insurance industry sources.

The reauthorization bill (S-2284), was passed last October by the Senate Banking Committee and calls for forgiving the more than $17.3 billion in debt the national flood program incurred in dealing with Hurricanes Katrina.

The Senate bill does not include a provision contained in companion House legislation that authorizes the NFIP to offer coverage for wind losses. That bill, H.R.-3121, passed the House on Sept. 27 and is not supported by the insurance industry.

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