Bill Text: NJ SJR41 | 2018-2019 | Regular Session | Introduced
Bill Title: Urges Congress and President to enact a long-term reauthorization of National Flood Insurance Program.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2018-02-05 - Introduced in the Senate, Referred to Senate Commerce Committee [SJR41 Detail]
Download: New_Jersey-2018-SJR41-Introduced.html
Sponsored by:
Senator JEFF VAN DREW
District 1 (Atlantic, Cape May and Cumberland)
SYNOPSIS
Urges Congress and President to enact a long-term reauthorization of National Flood Insurance Program.
CURRENT VERSION OF TEXT
As introduced.
A Joint Resolution urging Congress and the President of the United States to enact a long-term reauthorization of the National Flood Insurance Program.
Whereas, Due to the unavailability of private insurers that offer adequate and affordable flood insurance, the National Flood Insurance Program (NFIP), a federal program first established through the National Flood Insurance Act of 1968, provides coverage to many property owners in flood-prone areas in many states including New Jersey; and
Whereas, In late October of 2012, Hurricane Sandy battered New Jersey, devastating many communities, especially those located along the shore and in other areas vulnerable to flood; and
Whereas, The NFIP has been an indispensable resource for many victims of Hurricane Sandy and other flooding disasters in New Jersey over the years; and
Whereas, There were 228,000 NFIP policies in-force in New Jersey as of October, 2017 and New Jersey residents are paying a total of $223 million in premiums for these policies; and
Whereas, Current authorization for the NFIP expired on January 19, 2018 and, without reauthorization, the NFIP will lack authority to issue new policies or renew existing policies; and
Whereas, A long-term reauthorization of the NFIP is needed to avoid expiration of the program, or a continuous series of short-term extensions, which can result in program lapses that create uncertainty in the housing, mortgage lending, and insurance markets; and
Whereas, Many local, state, and national advocacy groups, and the National Association of Insurance Commissioners, support a long-term reauthorization of the NFIP; and
Whereas, It is therefore fitting and proper, and in the interests of the residents of New Jersey, for the Governor and the Legislature of the State of New Jersey to respectfully urge the United States Congress and the President of the United States to enact a long-term reauthorization of the National Flood Insurance Program; now, therefore,
Be It Resolved by the Senate and General Assembly of the State of New Jersey:
1. The Governor and the Legislature of New Jersey respectfully urge the United States Congress and the President of the United States to enact a long-term reauthorization of the National Flood Insurance Program.
2. Copies of this resolution, as filed with the Secretary of State, shall be transmitted by the Clerk of the General Assembly or the Secretary of the Senate to the President of the United States, the Majority and Minority Leaders of the United States Senate, the Speaker and Minority Leader of the United States House of Representatives, and each member of Congress from this State.
3. This joint resolution shall take effect immediately.
STATEMENT
This resolution respectfully urges the United States Congress and the President of the United States to enact a long-term reauthorization of the National Flood Insurance Program (NFIP).
The NFIP has been an indispensable resource for many victims of Hurricane Sandy and other flooding disasters in New Jersey over the years. Current authorization for the NFIP expired on January 19, 2018 and, without reauthorization, the NFIP will lack authority to issue new policies or renew existing policies. A long-term reauthorization of the NFIP is needed to avoid expiration of the program, or a continuous series of short-term extensions, which can result in program lapses that create uncertainty in the housing, mortgage lending, and insurance markets
