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July 11, 2011 – The House is poised to begin debate and consideration this week of H.R. 1309, a bill introduced by Rep. Judy Biggert, R-Ill., to reform and extend the National Flood Insurance Program for five years.

The House Rules Committee met on the bill Thursday, and the House on Friday approved a rule for proceeding on H.R. 1309. The NFIP is currently working under a temporary extension that expires Sept. 30. NAFCU is urging passage of the five-year extension to provide some certainty to home owners and lenders that the program will be able to respond when called upon.

Two dozen amendments could come up for consideration during debate on the bill. One filed by Reps. Brad Sherman, D-Calif., Spencer Bachus, R-Ala., and Gregory Meeks, D-N.Y., would require the Federal Emergency Management Agency to reduce the number of flood insurance policies it manages directly to 10 percent of the total in force. It would also allow FEMA to refuse to accept future transfers of policies to the NFIP Direct program.

An amendment filed by Rep. Francisco Canseco, R-Calif., would require FEMA's administrator to report to Congress within six months of enactment on how the agency can repay its $18 billion debt to Treasury within 10 years. Another, offered by Rep. Candice Miller, R-Mich., would terminate the NFIP by Jan. 1, 2012, and allow states to form interstate compacts for insurance.

The House reconvenes at noon.