House extends National Flood Insurance Program

A quick news blurb regarding a topic we brought up earlier: the nearing expiration of the National Flood Insurance Program. Such an expiration has been delayed another six months as the House agreed to extend the program through the 2009 hurricane season:

Set to expire on Sept. 30, the House approved a six-month extension to March 31, 2010. The Senate and president must approve the extension.

The NFIP bill (HR 3139) was sponsored by House Financial Services Housing Subcommittee Chairwoman Maxine Waters (D.-Calif.) and committee chairman Rep. Barney Frank (D-Mass.).

In March, President Barack Obama extended the program through September just as it was about to expire. Frank and Waters introduced the new legislation in July for a second extension, citing the importance of the program following Hurricane Katrina and other storms that devastated the Gulf Coast.

Definitely a good thing.

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