An Act to reauthorize the National Flood Insurance Program, and to extend certain rural housing programs.

Amends the National Flood Insurance Act of 1968 to: (1) extend the National Flood Insurance Program through September 30, 1991; (2) provide for the establishment or updating of flood-risk zone data until such date to identify flood-prone areas; (3) require the Director of the Federal Emergency Management Agency (FEMA) to report on the Federal assumption of the Program to private insurance companies in addition to the Congress; (4) prohibit the Director from implementing the Program through Federal facilities until nine months after the submission of such report unless it would be impossible to continue to carry out the Program during that time; and (5) authorize appropriations for FY 1990 and 1991 for flood insurance studies.

Amends the Housing and Community Development Act of 1987 to extend through September 30, 1991: (1) the limitation on rate increases for such insurance; and (2) the Rural Rental Rehabilitation Demonstration Program.

Requires the Director of FEMA to conduct a study to determine the impact of relative sea level rise on flood insurance rate maps. Requires such study to project the economic losses associated with estimated sea level rise and aggregate such data for the United States as a whole and by region. Requires the Director to report the results of this study to the Congress within one year after the enactment of this Act. Provides that funds for such study shall be made available from appropriations for flood insurance studies.

Amends the Housing Act of 1949 to extend through September 30, 1991: (1) the rental housing loan authority; (2) the authority for classification of rural areas; and (3) the mutual and self-help housing grant and loan authority.