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The National Association of REALTORS® is asking all REALTORS® to urge their Members of Congress to support the reauthorization of the National Flood Insurance Program (NFIP). Without congressional action, the NFIP is set to expire on September 30.

Please respond to NAR’s Call for Action and urge your member of Congress to pass “The 21st Century Flood Reform Act” H.R. 2874 as soon as possible. Persuading Congress to extend this program is very important to the industry, its members and their clients. If the NFIP lapses, more than 40,000 real estate transactions per month will be in jeopardy.

H.R. 2874 contains numerous provisions of critical importance to consumers and REALTORS®:

  • Reauthorizes NFIP for a full five years, avoiding the uncertainty of short term extensions and potential shutdowns
  • Caps NFIP rates at $10,000 per year for property owners
  • Directs FEMA to develop more granular rate tables, to ensure fewer properties are over charged by NFIP
  • Sets aside $1 billion for flood mitigation assistance grants
  • Increases access to private market flood insurance

TAKE ACTION HERE

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