The Washington Report

On September 25, 2024, Congress extended the National Flood Insurance Program's (NFIP) authority to provide flood insurance through December 20, 2024. 

Most NFIP policies are not affected during brief authorization lapses.  Nevertheless, NAR has prepared a FAQ sheet to help answer what an extended lapse could mean for closings and outline proactive steps your clients can take today.

Read the Frequently Asked Questions (FAQ) Sheet.

Read the letter to congressional leaders urging an NFIP extension.

On Wednesday, September 25, 2024, Congress passed a Continuing Resolution that will fund the government until December 20, 2024, narrowly circumventing a shutdown. The bill ensures that agencies and programs such as the Department of Housing and Urban Development, Department of Agriculture, Small Business Administration, as well as the National Flood Insurance Program (NFIP) can continue to operate fully until December 20, the deadline for another funding bill to be passed.

 The bill also provides an additional $231 million for the U.S. Secret Service to increase security for presidential candidates as we approach the November election.

 NAR continues to advocate for Congress to pass a long-term funding solution to keep the government operating fully.

Read NAR's letter urging congressional leadership to pass a spending bill to avoid a lapse in the NFIP. 

Learn more about what a government shutdown means for REALTORS®.