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Washington
Frank wants short-term Flood Insurance extender
WASHINGTON (9/19/08)--House Financial Services Committee Chairman Barney Frank (D-Mass.) introduced legislation Thursday for a seven-month extension of the National Flood Insurance Program (NFIP). The NFIP is set to expire on Sept. 30 and the proposed extension would give House and Senate negotiators time to complete work on a permanent extension and to assess the implications of the 2008 hurricane season, Frank said in an announcement. “I am disappointed that a permanent solution is not before us, but we can and should extend the program while we work on that final bill,” Frank said. The House passed a bill in 2007, the Flood Insurance Reform and Modernization Act, which would reauthorize the NFIP, which was established after Hurrican Katrina, for five years.


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