Timely Payments for Flood Victims Act of 2016

This bill amends the National Flood Insurance Act of 1968 to direct the Federal Emergency Management Agency (FEMA) to require that a final determination and notification regarding approval of a claim for damage to or loss of property under the national flood insurance program be made by the expiration of the 30-day period after such claim was made. Such period may be extended by a single additional period of 15 days if extraordinary circumstances are demonstrated. Claims shall be paid as soon as possible after approval.