WASHINGTON (September 27, 2019) – National Association of Realtors® President John Smaby issued the following statement after President Trump signed H.R. 4378 into law Friday evening, extending the National Flood Insurance Program’s funding authority through November 21.
“With this CR temporarily ending the threat of a program lapse, Realtors® urge Congress to resume working toward a long-term reauthorization of the National Flood Insurance Program,” said Smaby, a second-generation Realtor® from Edina, Minnesota.
“NAR strongly supports the NFIP Reauthorization Act, which includes a 5-year extension along with significant reforms to improve mapping, enhance mitigation and remove obstacles to private flood insurance. H.R. 3167 strikes a delicate balance between NFIP sustainability and affordability, and we urge both chambers of Congress to take up this legislation after its unanimous approval in the House Financial Services Committee.”
The National Association of Realtors® is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.