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S2142FEDERALin_committee

High Impact

National Flood Insurance Program Reauthorization and Reform Act of 2023

June 23, 2025

flood insurance disaster relief housing federal budget insurance regulation

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Where This Stands

Introduced

Committee

Floor Vote

Passed

Signed

Currently in_committee. The next step in the legislative lifecycle is Floor Vote.

Last action

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-548.Mar 12, 2024

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

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The Frame

What this does

This bill determines the future availability and cost of federal flood insurance for millions of homeowners and businesses, while setting new rules for how claims are processed and how insurance companies are compensated.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

NFIP Policyholders

Policyholders are subject to new premium caps, potential monthly payment options, and new protections regarding claim processing and engineer reports.

Write Your Own (WYO) Insurance Companies

These private companies face new caps on compensation, increased transparency requirements, and stricter accountability for claim payments.

Federal Emergency Management Agency (FEMA)

FEMA is tasked with implementing the new mitigation programs, managing the updated premium structures, and overseeing the revised claims processes.

What changed

Current stage: in_committee.

What's next

Floor Vote.

Summary

This bill proposes to extend the National Flood Insurance Program (NFIP) for five years, through September 30, 2028. It introduces new consumer protections, caps annual premium increases at 9%, and establishes new and loan programs to help property owners reduce flood risks.

Key Facts

Extends the authorization of the National Flood Insurance Program (NFIP) from September 30, 2023, to September 30, 2028.
Caps annual flood insurance premium increases at 9% for a five-year period.
Ensures the NFIP can continue operating during government shutdowns by allowing the use of existing funds when appropriations lapse.
Creates a new means-tested assistance program for policyholders.
Introduces optional monthly installment plans for premium payments.
Establishes new mitigation loan programs and revolving loan funds for flood-risk reduction.
Requires new transparency measures for third-party service provider costs and Write Your Own (WYO) company compensation.
Mandates improved training for floodplain managers, insurance agents, and adjusters.
Sets new requirements for claims processing deadlines and prohibits the manipulation of engineer reports.
Requires disclosure of flood risk information to buyers prior to the transfer of property.

Frequently Asked Questions

Will my flood insurance premiums go up?

The bill caps annual premium increases at 9% for the next five years, though specific policy costs may still fluctuate based on individual risk and coverage changes.

What happens if the government shuts down?

The bill includes a provision to allow the NFIP to continue operating using existing funds during a , preventing a total program shutdown.

Does this bill help with flood mitigation costs?

Yes, it establishes new loan programs and grants to assist property owners in making their homes more resilient to flooding.

Why It Matters

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Shutdown-Proofing

The bill explicitly creates a mechanism to keep the flood insurance program running during government shutdowns, a shift from previous reliance on temporary stop-gap measures.

Federal Emergency Management Agency

Connected Entities

personRobert Menendez“U.S. Senator who introduced the bill.”Map →

organizationFederal Emergency Management Agency“The agency responsible for administering the NFIP.”Map →

Analysis Score

0–100

Significance90
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz30
Current news / social attention level

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