NU Online News Service, May 25, 8:35 a.m. EDT
Industry officials believe the House will accept the 60-day National Flood Insurance Program extension the Senate passed yesterday, but an ultimatum in that bill could give the House pause.
Through a resolution that had to be passed by unanimous consent (H.R. 5740), the Senate effectively told the House that to gain an extension of the existing program through July 31, it had to accept a provision requiring the phase out of subsidies for second homes and vacation homes over four years.
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