U.S. House to Debate Extension of Fed. Flood Insurance Program
Posted on May 29, 2012 in Legislation, Local Issues, National Issues
Members of the U.S. House of representatives returned to D.C. this week following a recess for the Memorial Day holiday.
On the docket will be scheduled floor debates over extension of the Federal Flood Insurance Program which affects some 500,000 Louisiana policyholders.
The House is expected to approve a 60-day extension of the program starting Wednesday after which debates over a full 5-year extension will take place.
The goals of the extension will be to prevent an immediate lapse of coverage for affected policyholders and to allow rates to gradually increase over time in order to ensure the long-term viability of the program.
With Hurricane Season upon us, this is certainly a topic of critical importance for many Louisiana residents.