NU Online News Service, Sept. 14, 12:17 p.m. EDT
Legislation extending the current National Flood Insurance Program for a short period is being drafted by officials of the Senate Banking Committee.
This bill would be separate from the longer-term extension passed by the House and advanced recently by the Senate Banking Committee in a modified form.
Several industry officials and congressional staffers familiar with the issue confirm today that a bill extending the program for a shorter term beyond its current Sept. 30 is being prepared.
These officials say the extension would give the Senate “breathing room” as staffers and members of the committee continue work on the long-term reauthorization.
One reason is that few legislative days remain on the Senate calendar, and the Senate does not plan to work the week of Sept. 26 because it had earlier agreed to a recess for the Jewish holiday of Rosh Hashonah, which begins at sundown Sept. 28.
Sen. Tim Johnson, D-S.D., chairman of the Senate Banking Committee, sought unanimous consent Aug. 2 for legislation that would extend the program until Dec. 31, but several Republicans blocked Senate action.
Johnson acted as the Senate prepared to leave quickly following the lengthy and tense debate over legislation raising the federal-debt limit.
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