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News Now

Washington
Flood insurance SBA programs extended to March 28
WASHINGTON (3/4/10)--Funding for the National Flood Insurance Program, Stimulus Act small business loan guarantee programs, federal unemployment insurance, COBRA benefits, and other select federal programs was temporarily extended when President Obama signed H.R. 4691, the “Temporary Extension Act of 2010.” The legislation extends funding for flood insurance and small business provisions through March 28th. However, the legislation does not contain longer-term solutions to these issues. Under the legislation, the Small Business Administration will be provided $60 million in funding until March 28. The legislation also extends some fee reductions and eliminations associated with the small business loan programs contained in the Stimulus Act. While the House passed similar legislation last week, these and other federal programs expired last Sunday due to inactivity on the part of the Senate. H.R. 4213, which would extend flood insurance and small business provisions through the end of 2010, is awaiting a vote, and could be voted on this week.


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