Bill > SCR85

This concurrent resolution respectfully urges Congress and the President of the United States to take all necessary legislative and regulatory actions to increase financial assistance, known as subsidies, for flood insurance premiums. This is particularly important for the National Flood Insurance Program (NFIP), a federal program established in 1968 to provide flood coverage when private insurers are unavailable or unaffordable, especially for property owners who have experienced repeated flood damage. The resolution highlights the impact of Hurricane Sandy on New Jersey and notes that recent reforms, like the Biggert-Waters Flood Insurance Reform Act of 2012, are phasing out these subsidies, which could lead to significant premium increases for homeowners, particularly those in flood-prone areas or whose homes are now below updated flood elevation lines determined by the Federal Emergency Management Agency (FEMA). The resolution argues that increased subsidies would help these homeowners, who have already suffered losses and faced delays in federal relief compared to victims of other major disasters.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2026/SCR85