NAR Responds to One-Year NFIP Extension, Renews Calls for Long-Term Reform, Reauthorization

WASHINGTON (September 30, 2020) – NAR President Vince Malta issued the following statement after the Senate passed a continuing resolution on Wednesday, funding the government to December 11 and extending insurance writing authority for the National Flood Insurance Program through September 30, 2021. The president is expected to sign the bill – which last week cleared the U.S. House of Representatives – in the coming hours.

"NAR thanks lawmakers for including a one-year extension of the National Flood Insurance Program in this Continuing Resolution, but the job is not done," said Malta, broker at Malta & Co., Inc., in San Francisco, CA. "As the 116th Congress nears its end, the House and Senate are missing a golden, bipartisan opportunity to move meaningful NFIP reform legislation authored by Chairwoman Maxine Waters and Ranking Member Patrick McHenry, which addresses the program’s viability and affordability. NAR urges Congress to make long-term reform a priority moving forward."

The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

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