NU Online News Service, Sept. 14, 12:17 p.m.EDT

Legislation extending the current National Flood InsuranceProgram for a short period is being drafted by officials of theSenate Banking Committee.

This bill would be separate from the longer-term extension passed by the House andadvanced recently by the Senate Banking Committee in a modifiedform.

Several industry officials and congressional staffers familiarwith the issue confirm today that a bill extending the program fora shorter term beyond its current Sept. 30 is being prepared.

These officials say the extension would give the Senate“breathing room” as staffers and members of the committee continuework on the long-term reauthorization.

One reason is that few legislative days remain on the Senatecalendar, and the Senate does not plan to work the week of Sept. 26because it had earlier agreed to a recess for the Jewish holiday ofRosh Hashonah, which begins at sundown Sept. 28.

Sen. Tim Johnson, D-S.D., chairman of the Senate BankingCommittee, sought unanimous consent Aug. 2 for legislation thatwould extend the program until Dec. 31, but several Republicansblocked Senate action.

Johnson acted as the Senate prepared to leave quickly followingthe lengthy and tense debate over legislation raising thefederal-debt limit.