GovTrack’s Bill Summary
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H.R. 5569 (111th): National Flood Insurance Program Extension Act of 2010
- Introduced:
- Jun 22, 2010 (111th Congress, 2009–2010)
- Sponsor:
- Rep. Maxine Waters [D-CA35]
- Status:
- Signed by the President
- Slip Law:
- This bill became Pub.L. 111-196.
The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
7/2/2010. Amends the National Flood Insurance Act of 1968 to extend the National Flood Insurance Program from September 30, 2008, through September 30, 2010. Reduces the total amount of notes and obligations which the Director of the Federal Emergency Management Agency (FEMA) may through FY2010, with the President's approval, issue to finance the Program. Deems the amendments made by this Act to have taken effect on May 31, 2010. States that, to comply with the Statutory Pay-As-You-Go Act of 2010, the budgetary effects of this Act shall be determined by reference to the latest statement titled "Budgetary Effects of PAYGO Legislation" submitted to the Congressional Record by the Chairman of the House Budget Committee, if such statement has been submitted prior to the vote on passage.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
This summary can be found at http://www.gop.gov/bill/111/2/hr5569.
Background
The NFIP is facing serious financial challenges and cannot afford to continue on its current path. The GAO has included the NFIP on its annual list of high-risk government programs since 2006 because of its ongoing potential to incur billions of dollars in losses. With an $18 billion debt to the Treasury and the persistence of subsidized premium rates for properties in high-risk areas, the NFIP continues to be underfunded and federal taxpayers remain at risk. This year, the NFIP has been suspended three times. Congressional authorization for the NFIP expired on May 31, 2010.
Summary
H.R. 5569 would provide a temporary extension of the National Flood Insurance Program through September 30, 2010. The reauthorization would be retroactive to May 31, 2010, and the bill would reduce the program’s borrowing authority by $50 million.
Cost
According to the CBO, H.R. 5569 would have no net impact on the federal budget.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.
The bill contains the following citations to other parts of U.S. law:
United States Code
The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)
- Title 42: THE PUBLIC HEALTH AND WELFARE
- Chapter 50: NATIONAL FLOOD INSURANCE
- Subchapter I: THE NATIONAL FLOOD INSURANCE PROGRAM
- Section 4016: Financing provisions; issuance of notes or other obligations; limitation; report to Congressional committees; deposits in Fund
- Section 4026: Expiration of program