National Association of Realtors Calls on Congress to Pass Provision Extending Flood Insurance Program

(Washington, DC – Insurance News 360) – The National Association of Realtors urged congress on March 22 to pass the omnibus appropriations bill, which included funding provisions that relate to housing matters.

Realtors have been fighting for provisions that stop the weakening of the Low-Income Housing Tax Credit (LIHTC) from the new tax law, and extending the National Flood Insurance Program (NFIP) through July 31, increasing flood map funding to $263 million, and funding and changes to the average income test in the LIHTC.

Elizabeth Mendenhall, CEO of Re/Max Boone Realty an President of the National Association of Realtors issued this statement:

“In addition to extending the NFIP through July, with the goal of passing a long-term reauthorization and reform of the program soon, this spending bill contains significant improvements for providing affordable housing options for low-income households,” she said. “REALTORS® were a key part of a larger coalition that fought for these necessary changes, and we’re pleased to see the steps taken to strengthen the Low-Income Housing Tax Credit to address our country’s housing needs. It’s now time for Congress step up to the plate, pass the bill and fund the government through the rest of the 2018 fiscal year.”

Source: National Association of Realtors.

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