Without Congressional action by September 30, 2017, authority for the National Flood Insurance Program (NFIP) will expire. If the NFIP lapses, more than 40,000 real estate transactions per month will be in jeopardy.
Urge your member of Congress to pass “The 21st Century Flood Reform Act” H.R. 2874 as soon as possible.
H.R. 2874 contains numerous provisions of critical importance to consumers and REALTORS:
Reauthorizes NFIP for a full 5 years, avoiding the uncertainty of short term extensions and potential shutdowns
Caps NFIP rates at $10,000 per year for property owners
Directs FEMA to develop more granular rate tables, to ensure fewer properties are over charged by NFIP
Sets aside $1 billion for flood mitigation assistance grants
Increases access to private market flood insurance
Angie Hedgepeth, Government Affairs Director for the Association, attends all the local meetings each month, as well as NAR and NCAR meetings, and keeps members abreast of the multiple issues being addressed in local, state and national government. She prepares reports on the meetings she attends and they are included in the weekly "Government Affairs Update".
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