SCHENECTADY N.Y -At the end of the month, the National Flood Insurance Program’s authorization will expire if Congress doesn’t act.
Lawmakers are hoping to extend it and make reforms, especially as hurricane season continues.
NewsChannel 34’s Corina Cappabianca has more on how it could impact New York State.
From the Stockade neighborhood in Schenectady, to houses near Lake Ontario, the concern for flooding for some in Upstate New York is real.
((Mary D’Alessandro, Stockade Neighborhood Resident))
Every spring there is a fear of flooding.
We watch the ice jams, hold our breath and hope that this time it will not happen.
Senator Chuck Schumer says that in New York State alone, there are about 300,000 National Flood Insurance Program policy holders.
But, on September 30th the program’s clock will run out.
((Chuck Schumer, Senator))
We’re here to do two things, first to say it cannot expire. We want to get it done in the next three weeks. But, it cannot expire.
He says secondly, it needs to be reformed and made more affordable.
Among other reforms a re-authorization bill would extend the program for five years.
And it would put a 9 percent cap on premiums for policy holders.
((Chuck Schumer, Senator)) We certainly have a good chance of renewing it, because it we didn’t renew it everything would come to a standstill and property values would plummet.
But, I think we have a pretty good chance of getting our bill done.
((Corina Cappabianca, NYS Capitol Correspondent))
Schumer says the bill would also provide more accurate mapping of flood risk areas.
In Schenectady, Corina Cappabianca.