House Panel Advances Flood Insurance Reauthorization

Law360, New York (April 28, 2010, 1:44 PM EDT) -- A U.S. House of Representatives panel has advanced legislation that would reauthorize the National Flood Insurance Program for five years, in an effort to put a stop to a number of short-term extensions that have plagued the federal program.

The House Financial Services Committee approved the Flood Insurance Reform Priorities Act, or H.R. 5114, on Wednesday. The bill would not only reauthorize the NFIP but also slow implementation of new insurance rate maps so homeowners in a community recently classified as a flood zone will not...
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