News & Updates

Learn the latest on flood insurance reform

NFIP Reauthorized Until September 30, 2024

NFIP has been extended from March 22, 2024 to September 30, 2024 through H.R.2882, the Further Consolidated Appropriations Act, 2024.  This is the 30th short-term extension of NFIP since September 2017.

President Biden signed this bill on March 23, after passing Senate (74-24) earlier that morning and the House (286-134) the day before.  Although the bill was signed after 11:59pm on March 22, the White House said, “Because obligations of federal funds are incurred and tracked on a daily basis, agencies will not shut down and may continue their normal operations.”

The bill includes FY24 appropriations for six of the twelve appropriations subcommittees, including Homeland Security.  Within DHS, FEMA will receive $319.5M for emergency management performance grants, $281.5M  for Flood Hazard Mapping and Risk Analysis, $190.6M for pre-disaster mitigation grants, $40M for the Next Generation Warning System, and $10.8M for Regional Catastrophic Preparedness Grants.  Furthermore, key National Flood Insurance Fund appropriations are:

  • $1.3B for commissions and taxes of agents
  • $230.5M for operating expenses and salaries and expenses associated with flood insurance operations
  • $221M for flood plain management and flood mapping
  • $175M for flood mitigation actions and for flood mitigation assistance
  • $18.9M for mission support associated with flood management
  • $5M for the Flood Insurance Advocate
  • Such sums as are necessary for interest on Treasury borrowings

CSFI continues to advocate for a multi-year reauthorization with reform by September 30, 2024.  Please see CSFI’s reauthorization platform here.