Number: RS22394
Title: National Flood Insurance Program: Treasury Borrowing in the Aftermath of Hurricane Katrina
Authors: Rawle O. King, Government and Finance Division 
Abstract: On September 27, 2007, the House approved H.R. 3121, the Flood Insurance Reform and Modernization Act of 2007, to reform the program while retaining its original intent to keep rates affordable for people to buy the insurance. H.R. 3121 would also increase the NFIP's Treasury borrowing authority from $20.775 to $21.5 billion. On November 1, 2007, Senator Christopher J. Dodd introduced S. 2284 to restore the financial solvency of the program and to forgive the debt.
Pages: 6
Date: September 19, 2008