H.R. 2123 — NFIP Extension Act of 2025

This section extends the National Flood Insurance Program (NFIP) and its temporary enhanced borrowing authority through September 30, 2025 (from September 30, 2023). Specifically, it (1) extends the period through which the FEMA Administrator may issue notes or obligations up to $30.425 billion with presidential approval (instead of $1.5 billion) to September 30, 2025 (from September 30, 2023); and (2) extends the program's expiration date to September 30, 2025 (from September 30, 2023). The amendments apply retroactively to March 14, 2025, if enacted after that date.