The National Flood Insurance Program was finally provided breathing space until May 31 through one of President Obama’s last actions of 2011.
At around noon on Dec. 23, Obama signed H.R. 2055, the “Consolidated Appropriations Act” (known as the “mini-bus”). The bill had been passed by Congress the prior Friday, but delays in getting it printed by House staff officials had prompted a series of short-term extensions that would have allowed the program to lapse at midnight on Dec. 23 without presidential action.
The latest extension means that since 2002, there have been 15 last-minute reauthorizations of the NFIP—and on four occasions the program was allowed to lapse for extended periods of time.
Industry officials now say they will turn their efforts to gaining a multiyear extension of the program that will include meaningful reforms.