Overview

• Without reauthorization by Sept. 30, FEMA’s flood program would stop issuing new policies, block renewals, and allow existing contracts to run only to their current one‑year terms.
• If the deadline passes, NFIP’s Treasury borrowing authority drops from $30.425 billion to $1 billion, constraining post‑disaster claim payments during peak hurricane season.
• Mortgage closings in high‑risk flood zones could stall under mandatory purchase rules, with past lapses estimated to have delayed or canceled about 1,400 home sales per day in June 2010.
• The program covers more than 4.7 million policies across 22,533 communities, insuring about $1.28 trillion in value and collecting roughly $4.6 billion annually in premiums and fees.
• Sen. Bill Cassidy is pushing an extension through 2026 and proposals targeting affordability—repeal of Risk Rating 2.0 and a 33% refundable tax credit—while Louisiana’s insurance commissioner plans to press FEMA on transparency and costs.