The House late Thursday passed legislation to extend the National Flood Insurance Program for five years, increasing coverage on residential and commercial properties.
The bill (H.R. 5117), approved by a 329-90 vote, increases flood insurance coverage to $335,000 on single-family property and $670,000 on a commercial one. It phases out subsidized insurance premiums on second homes and vacation properties.
The lawmakers approved an amendment by Rep. Gene Taylor, D-Miss., that addresses the issue of wind damage when houses are also damaged by flooding. The Taylor amendment prohibits insurers from selling national flood insurance policies while excluding wind damage coverage on their policies solely because of flood damage to the property.
The Taylor amendment was approved by a voice vote. The flood insurance bill now goes to the Senate for further action.
The National Flood Insurance Program has been in a stop-and-go mode all year because it operates under temporary extensions. Three times this year the Federal Emergency Management Agency halted issuing new flood insurance policies due to congressional inaction. The current extension of the flood insurance program expires September 30.
