On Thursday, The Senate Banking Committee chooses to send a five-year extension of the National Flood Insurance Program to the full Senate for a vote. In news released, Sen. Jon Tester, D-Mont as a member of the Banking Committee said that the Banking Committee would give greater certainty and would help put the Flood Insurance Program on a more sound financial footing. Therefore, insurance would continue to be available for those at risk of flood with reauthorizing the National Flood Insurance Program for five years.
As many as 20,000 communities across the United States voluntarily have participated in Federal Emergency Management Agency?s National Flood Insurance Program to reduce future flood damage. In 2008, the Army Corps of Engineers had changed its longstanding policy. Since then, FEMA started updating flood insurance rate maps, which required levee certifications, which were assessments that affect property values, insurance premiums and requirements to buy flood insurance.
If the Army Corps did not pay levee certifications for levees such as the West Great Falls Flood Control Levee, it could push small communities to either pay expensive private certification or for homeowners had to pay high flood-insurance premiums. Tester said that there was no reason that the two government agencies could not work together for helping the local communities that depend on these levees.
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