Page 70 - Region 5 NAR Update

• NARhasspenttheyearsupportingtheNFIPReauthorization Act of 2019, which includes significant reforms and a 5-year program reauthorization, stating that it strikes a delicate balance between NFIP sustainability and affordability.
• HouseFinancialServicesChairwomanMaxineWatersand Ranking Member Patrick McHenry unveiled the legislation last summer. The committee quickly approved and unanimously it.
• NARishopefulthisbill,H.R.3167,cancleartheHouseand move to the Senate, but it faces many hurdles to bridge both partisan and regional divides that exist among lawmakers.
• NARcontinuestoworktowardalong-termsolutiontoensure the program is solvent and sustainable.
• H.R.3167addressmanycriticalNARpriorities,including strengthening mapping and mitigation, and facilitating a more robust private insurance market.
• Forexample,negotiationsareon-goingbetweenHouse leadership and a dozen coastal Congressional members pushing to add NFIP rate and claims reforms.
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