Illinois REALTORS® can take pride in the extension of the National Flood Insurance Program (NFIP) through Dec. 8. The program had been scheduled to expire Sept. 30.
Their strong response to the National Association of REALTORS®’ Call for Action on NFIP and needed reforms helped convince the Senate to approve the extension last Friday. President Donald Trump signed the reauthorization later that day.
The extension gives time for Congress to consider reform of NFIP and provides consumers another three months of insurance protection. The Call for Action spurred 22.4 percent of Illinois REALTORS® to contact their senators, while 13.9 percent of REALTORS® participated nationally. In Illinois, an overwhelming majority of local associations exceeded the 20 percent goal:
- REALTOR® Association of Northwestern Illinois (42.5 percent),
- Quad City Area REALTOR® Association Inc. (38.65),
- Livingston County Board of REALTORS® (36.0),
- Mid Valley Association of REALTORS® (35.71),
- Rockford Area Association of REALTORS® (33.71)
- Illini Valley Association of REALTORS® Inc. (32.84),
- Oak Park Area Association of REALTORS® (32.68),
- Quincy Association of REALTORS® Inc. (31.13),
- Three Rivers Association of REALTORS® Inc. (30.55).
- Heartland REALTOR® Organization (28.48),
- Peoria Area Association of REALTORS® (26.83),
- Bloomington-Normal Association of REALTORS® (26.5),
- REALTOR® Association of Southwestern Illinois Inc. (25.98),
- Kankakee-Iroquois-Ford Association of REALTORS® Inc. (25.79),
- Decatur Association of REALTORS® (25.77),
- Capital Area REALTORS® (25.51),
- Champaign County Association of REALTORS® (24.36),
- Egyptian Board of REALTORS® (24.25),
- Logan County Board of REALTORS® (24.24),
- Belvidere Board of REALTORS® (23.08),
- REALTOR® Association of the Fox Valley, Inc. (22.34),
- Danville Area Board of REALTORS® (22.22),
- Greater Gateway Association of REALTORS® (20.75) and
- Central Illinois Board of Realtors® (20.48).
“Extending the National Flood Insurance Program was a must-do item – and Congress delivered,” said 2017 NAR President Bill Brown. “That’s good news for consumers, as well as an opportunity for proponents of meaningful reform. With a short extension on their side, leaders in the House and Senate should continue work on the 21st Century Flood Reform Act to strengthen the NFIP and ensure the long-term certainty that current and future homeowners demand.”