National Flood Insurance Program Reauthorization and Reform Act of 2023
Latest Action
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-548.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™The National Flood Insurance Program Reauthorization and Reform Act of 2023 (S.2142) is a Senate bill from the 118th Congress focused on reauthorizing and reforming the National Flood Insurance Program (NFIP). The bill aims to address issues related to flood insurance coverage, program sustainability, and risk management. As of the latest update, the bill has undergone hearings in the Senate Committee on Banking, Housing, and Urban Affairs but lacks publicly available full text and an official summary. The bill is categorized under the Finance and Financial Sector policy area and is currently marked as failed or expired.
S.2142 sought to reauthorize and reform the NFIP but did not advance beyond committee hearings and ultimately expired without passage.
- The bill focuses on reauthorization and reform of the National Flood Insurance Program.
- Hearings were held by the Senate Committee on Banking, Housing, and Urban Affairs, indicating legislative consideration.
- The bill is categorized under the Finance and Financial Sector policy area, highlighting its financial regulatory implications.
['Homeowners and property owners in flood-prone areas who rely on NFIP coverage', 'Federal agencies involved in flood risk management and insurance', 'Insurance industry stakeholders participating in or affected by NFIP reforms']
['Lack of publicly available full bill text limits detailed assessment of implementation challenges.', 'Potential costs and funding mechanisms for reauthorization and reform are not specified.', 'Oversight and enforcement provisions cannot be evaluated due to missing detailed legislative language.']
The bill was introduced in the Senate during the 118th Congress and referred to the Committee on Banking, Housing, and Urban Affairs, where hearings were held. Despite this, the bill did not progress to further legislative stages and is now classified as failed or expired. The NFIP has been subject to periodic reauthorization and reform efforts due to its importance in managing flood risk and insurance coverage nationwide.
Hidden impact flags detected: 1
GovScope reviewed 1 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['Potential impacts on the insurance market and flood risk management practices due to changes in NFIP structure or funding.', 'Possible effects on federal budget allocations related to disaster relief and insurance subsidies.', 'Influence on property values and development in flood-prone areas depending on insurance availability and cost.']
Transparency is limited by the absence of the full bill text and official summary, which restricts public and expert scrutiny. The bill's failure to advance beyond committee hearings suggests limited legislative momentum. Monitoring future reauthorization efforts for the NFIP is important given its significant role in national flood risk management.
GovScope Intelligence Roadmap
Future bill intelligence will connect sponsors, committee referrals, related votes, campaign finance, disclosures, and stock trades into one legislative intelligence view.