Says Legislation Will Help Thousands of Tennesseans Hit by Thousand-Year Rain Event
Posted on June 22, 2010
WASHINGTON—U.S. Senator Lamar Alexander (R-Tenn.) today cosponsored a bill offered by Senator David Vitter (R-La.) that would extend the National Flood Insurance Program through December 31, 2010.
"Right now, Tennesseans who want flood insurance can’t get new policies. The money is there, but the authority to write new policies is not,” Alexander said. “This legislation would take care of that problem, which would be especially welcome news to those in Middle and West Tennessee who were hit by last month's historic flood."
The Vitter-Alexander bill (S. 3347) would extend authority for the Federal Emergency Management Agency (FEMA) to issue new flood insurance contracts, issue renewal contracts for those that are expiring and issue changes to current contracts—that authority expired on June 1st. Alexander said the legislation would be particularly helpful for small businesses hit by the flood that cannot receive loans from the Small Business Administration until they have proof of flood insurance.