Flood insurance coming up for House vote

The vote to concur with the Senate-passed bill will be brought up under suspension of rules. No amendments will be in order and two-thirds of those present and voting will need to agree.

NFIP expires after May 31 and at that point home sales in flood regions will grind to a halt. The House earlier this month passed a 30-day extension bill with some pro-market reforms attached. The Senate bill does phase out subsidies for vacation homes.

Senate Majority Leader Harry Reid (D-Nev.) last week agreed to allow a five-year NFIP bill to come to the floor during the June work period. The House passed a five-year bill last summer. The draft Senate bill, like the House-passed version, would reduce the deficit by allowing NFIP to charge higher premiums.