U.S. Congress - Text of H.R.6078 as Introduced in House Green Resources for Energy Efficient Neighborhoods Act of 2008
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Donate NowH.R.6078 - Green Resources for Energy Efficient Neighborhoods Act of 2008
To encourage energy efficiency and conservation and development of renewable energy sources for housing, commercial structures, and other buildings, and to create sustainable communities.
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HR 6078 IHCommentsClose CommentsPermalink
To encourage energy efficiency and conservation and development of renewable energy sources for housing, commercial structures, and other buildings, and to create sustainable communities.CommentsClose CommentsPermalink
May 15, 2008
Mr. PERLMUTTER (for himself, Mr. HODES, Mr. FRANK of Massachusetts, Mr. MARKEY, Mrs. MCCARTHY of New York, Mr. KAGEN, Mr. BRALEY of Iowa, Mr. MURPHY of Connecticut, Mr. BLUMENAUER, Mr. WILSON of Ohio, Mr. ELLISON, Ms. SHEA-PORTER, Mr. WELCH of Vermont, Mr. CLEAVER, Mr. OLVER, Mr. EMANUEL, Mr. SALAZAR, Mr. SARBANES, Mr. INSLEE, Mr. UDALL of Colorado, Mr. ANDREWS, and Ms. TSONGAS) introduced the following bill; which was referred to the Committee on Financial ServicesCommentsClose CommentsPermalink
To encourage energy efficiency and conservation and development of renewable energy sources for housing, commercial structures, and other buildings, and to create sustainable communities.CommentsClose CommentsPermalink
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink
SECTION 1. SHORT TITLE AND TABLE OF CONTENTS.
(a) Short Title- This Act may be cited as the `Green Resources for Energy Efficient Neighborhoods Act of 2008' or the `GREEN Act of 2008'.CommentsClose CommentsPermalink
(b) Table of Contents- The table of contents for this Act is as follows:CommentsClose CommentsPermalink
Sec. 1. Short title and table of contents.CommentsClose CommentsPermalink
Sec. 2. Minimum HUD energy efficiency standards and standards for additional credit.CommentsClose CommentsPermalink
Sec. 3. Energy efficiency and conservation demonstration program for multifamily housing projects assisted with project-based rental assistance.CommentsClose CommentsPermalink
Sec. 4. Additional credit for Fannie Mae and Freddie Mac housing goals for energy efficient mortgages.CommentsClose CommentsPermalink
Sec. 5. Authority of housing-related government-sponsored enterprises with respect to energy-efficient and location-efficient mortgages and reporting.CommentsClose CommentsPermalink
Sec. 6. Energy-efficient mortgage and location-efficient mortgage goals for Fannie Mae and Freddie Mac.CommentsClose CommentsPermalink
Sec. 7. FHA energy-efficient housing requirement.CommentsClose CommentsPermalink
Sec. 8. Energy efficient mortgages education and outreach campaign.CommentsClose CommentsPermalink
Sec. 9. Collection of information on energy-efficient and location efficient mortgages through Home Mortgage Disclosure Act.CommentsClose CommentsPermalink
Sec. 10. Ensuring availability of homeowners insurance for homes not connected to electricity grid.CommentsClose CommentsPermalink
Sec. 11. Mortgage incentives for energy-efficient multifamily housing.CommentsClose CommentsPermalink
Sec. 12. Energy efficiency certifications for housing with mortgages insured by FHA.CommentsClose CommentsPermalink
Sec. 13. Assisted housing energy loan program.CommentsClose CommentsPermalink
Sec. 14. Making it green.CommentsClose CommentsPermalink
Sec. 15. Residential energy efficiency block grant program.CommentsClose CommentsPermalink
Sec. 16. Including sustainable development in comprehensive housing affordability strategies.CommentsClose CommentsPermalink
Sec. 17. Grant program to increase sustainable low-income community development capacity.CommentsClose CommentsPermalink
Sec. 18. Utilization of energy performance contracts in HOPE VI.CommentsClose CommentsPermalink
Sec. 19. HOPE VI green developments requirement.CommentsClose CommentsPermalink
Sec. 20. Community Reinvestment Act credits for energy efficient mortgages and green building efforts.CommentsClose CommentsPermalink
Sec. 21. Consideration of energy-efficiency improvements in appraisals.CommentsClose CommentsPermalink
Sec. 22. Assistance for Housing Assistance Council.CommentsClose CommentsPermalink
Sec. 23. Rural housing and economic development assistance.CommentsClose CommentsPermalink
Sec. 24. Revolving fund for loans to States and Indian tribes to carry out renewable energy sources activities.CommentsClose CommentsPermalink
Sec. 25. Green banking centers.CommentsClose CommentsPermalink
SEC. 2. MINIMUM HUD ENERGY EFFICIENCY STANDARDS AND STANDARDS FOR ADDITIONAL CREDIT.
(a) Minimum HUD Standard-CommentsClose CommentsPermalink
(1) RESIDENTIAL STRUCTURES- A residential single family or multifamily structure shall be considered to comply with the energy efficiency requirements under this subsection if--CommentsClose CommentsPermalink
(A) the structure complies with the applicable provisions of the American Society of Heating, Refrigerating, and Air-Conditioning Engineers Standard 90.1-2007, as such standard is in effect for purposes of this section pursuant subsection (c);CommentsClose CommentsPermalink
(B) the structure complies with the applicable provisions of the 2006 International Energy Conservation Code, as such standard is in effect for purposes of this section pursuant subsection (c);CommentsClose CommentsPermalink
(C) in the case only of an existing structure, the energy consumption for the structure has been reduced by at least 30 percent from the previous level of consumption, as determined in accordance with energy audits performed both before and after any rehabilitation or improvements undertaken to reduce such consumption; orCommentsClose CommentsPermalink
(D) the structure complies with the applicable provisions of such other energy efficiency requirements, standards, checklists, or ratings systems as the Secretary may, by regulation, adopt and apply, for purposes of this section for specific types of residential single family or multifamily structures or otherwise, except that the Secretary shall make a determination regarding whether to adopt and apply any such requirements, standards, checklists, or rating system for purposes of this section not later than the expiration of the 180-day period beginning upon submission of any written request, made in such form as the Secretary shall provide, for such adoption and application.CommentsClose CommentsPermalink
(2) NONRESIDENTIAL STRUCTURES- The Secretary of Housing and Urban Development shall, by regulation, identify and adopt, for purposes of this section, energy efficiency requirements, standards, checklists, or rating systems applicable to nonresidential structures. A nonresidential structure shall be considered to comply with the energy efficiency requirements under this subsection if the structure complies with the applicable provisions of any such energy efficiency requirements, standards, checklist, or rating systems identified and adopted by the Secretary pursuant to this paragraph, as such standards are in effect for purposes of this section pursuant to subsection (c).CommentsClose CommentsPermalink
(b) Additional Credit for Further Compliance With Energy Efficiency and Conservation or Green Building Standards-CommentsClose CommentsPermalink
(1) IN GENERAL- In addition to compliance with the energy efficiency requirements under subsection (a), a residential or nonresidential structure shall be considered to comply with the energy efficiency and conservation standards under this subsection, or with the green building standards under this subsection, to the extent that such structure complies with the applicable provisions of the standards under in paragraph (2) or (3), respectively (as such standards are in effect for purposes of this section, pursuant to subsection (c)), in a manner that is not required for compliance with the energy efficiency requirements under subsection (a).CommentsClose CommentsPermalink
(2) ENERGY EFFICIENCY AND CONSERVATION STANDARDS- The energy efficiency and conservation standards under this paragraph are as follows:CommentsClose CommentsPermalink
(A) RESIDENTIAL STRUCTURES- With respect to residential structures:CommentsClose CommentsPermalink
(i) NEW CONSTRUCTION- For new construction, the Energy Star standards establish by the Environmental Protection Agency, as such standards are in effect for purposes of this subsection pursuant to subsection (c);CommentsClose CommentsPermalink
(ii) EXISTING STRUCTURES- For existing structures, a reduction in energy consumption from the previous level of consumption for the structure, as determined in accordance with energy audits performed both before and after any rehabilitation or improvements undertaken to reduce such consumption, that exceeds the reduction necessary for compliance with the energy efficiency requirement under subsection (a)(1)(C).CommentsClose CommentsPermalink
(B) NONRESIDENTIAL STRUCTURES- With respect to nonresidential structures, such energy efficiency and conservation requirements, standards, checklists, or rating systems for nonresidential structures as the Secretary shall, by regulation, identify and adopt, for purposes of this paragraph.CommentsClose CommentsPermalink
(3) GREEN BUILDING STANDARDS- The green building standards under this paragraph are as follows:CommentsClose CommentsPermalink
(A) The national Green Communities criteria checklist for residential construction that provides criteria for the design, development, and operation of affordable housing, as such checklist is in effect for purposes of this section pursuant to subsection (c).CommentsClose CommentsPermalink
(B) The Gold Version of the LEED for New Construction rating system, the LEED for Core and Shell rating system, the LEED for Commercial Interiors rating system, as applicable, as such systems are in effect for purposes of this section pursuant to subsection (c).CommentsClose CommentsPermalink
(C) The Green Globes assessment and rating system of the Green Buildings Initiative.CommentsClose CommentsPermalink
(D) For manufactured housing, the most recent version of the National Fire Protection Association standard 501, and energy star rating with respect to fixtures, appliances, and equipment in such housing, as such standard is in effect for purposes of this section pursuant to subsection (c).CommentsClose CommentsPermalink
(E) Any other requirements, standards, checklists, or rating systems for green building or sustainability as the Secretary may, by regulation, identify and adopt for purposes of this paragraph, except that the Secretary shall make a determination regarding whether to adopt and apply any such requirements, standards, checklist, or rating system for purposes of this section not later than the expiration of the 180-day period beginning upon submission of any written request, made in such form as the Secretary shall provide, for such adoption and application.CommentsClose CommentsPermalink
(4) GREEN BUILDING- For purposes of this subsection, the term `green building' means, with respect to standards for structures, standards to require use of sustainable design principles to reduce the use of nonrenewable resources, minimize the impact of development on the environment, and to improve indoor air quality.CommentsClose CommentsPermalink
(5) ENERGY AUDITS- The Secretary of Housing and Urban Development, in consultation with any advisory committees established pursuant to section 3(c)(2) of this Act, shall establish standards and requirements for energy audits for purposes of paragraph (2)(A)(ii).CommentsClose CommentsPermalink
(c) Applicability and Updating of Standards-CommentsClose CommentsPermalink
(1) APPLICABILITY- Except as provided in paragraph (2), the requirements, standards, checklists, and rating systems referred to in subsections (a) and (b) that are in effect for purposes of this section are such requirements, standards, checklists, and systems are as in existence upon the date of the enactment of this Act.CommentsClose CommentsPermalink
(2) UPDATING- The Secretary may, by regulation, adopt and apply, for purposes of this section, future amendments and supplements to, and editions of, the requirements, standards, checklists, and rating systems referred to in subsections (a) and (b).CommentsClose CommentsPermalink
SEC. 3. ENERGY EFFICIENCY AND CONSERVATION DEMONSTRATION PROGRAM FOR MULTIFAMILY HOUSING PROJECTS ASSISTED WITH PROJECT-BASED RENTAL ASSISTANCE.
(a) Authority- The Secretary of Housing and Urban Development shall conduct a program to demonstrate the effectiveness of funding a portion of the costs of carrying out energy efficiency and conservation and green building measures for multifamily housing projects for which project-based rental assistance is provided under a covered multifamily assistance program by providing additional adjustments in maximum monthly rents, additional project rental assistance, or additional assistance under the Native American Housing Assistance and Self-Determination Act of 1996, for dwelling units in such projects that are provided such assistance.CommentsClose CommentsPermalink
(b) Goals- The demonstration program under this section shall be carried out in a manner that--CommentsClose CommentsPermalink
(1) protects the financial interests of the Federal Government;CommentsClose CommentsPermalink
(2) reduces the proportion of funds provided by the Federal Government and by owners and residents of multifamily housing projects that are used for costs of utilities for the projects;CommentsClose CommentsPermalink
(3) encourages energy efficiency and conservation by owners and residents of multifamily housing projects and installation of renewable energy improvements, such as improvements providing for use of solar, wind, geothermal, or biomass energy sources;CommentsClose CommentsPermalink
(4) creates incentives for project owners to carry out such energy efficiency renovations and improvements by allowing a portion of the savings in operating costs resulting from such renovations and improvements to be retained by the project owner, notwithstanding otherwise applicable limitations on dividends;CommentsClose CommentsPermalink
(5) promotes the installation, in existing residential buildings, of energy-efficient and cost-effective improvements and renewable energy improvements, such as improvements providing for use of solar, wind, geothermal, or biomass energy sources;CommentsClose CommentsPermalink
(6) tests the efficacy of a variety of energy efficiency measures for multifamily housing projects of various sizes and in various geographic locations;CommentsClose CommentsPermalink
(7) tests methods for addressing the various, and often competing, incentives that impede owners and residents of multifamily housing projects from working together to achieve energy efficiency or conservation; andCommentsClose CommentsPermalink
(8) creates a database of energy efficiency and conservation, and renewable energy, techniques, energy savings management practices, and energy efficiency and conservation financing vehicles.CommentsClose CommentsPermalink
(c) Approaches- In carrying out the demonstration program under this section, the Secretary may--CommentsClose CommentsPermalink
(1) enter into agreements with the Building America Program of the Department of Energy, the Partnership for Advancing Technology in Housing of the Department of Housing and Urban Development, and other consensus committees under which such programs, partnerships, or committees assume some or all of the functions, obligations, and benefits of the Secretary with respect to energy savings;CommentsClose CommentsPermalink
(2) establish advisory committees to advise the Secretary and any such third party partners on technological and other developments in the area of energy efficiency and the creation of an energy efficiency and conservation credit facility and other financing opportunities, which committees shall include representatives of homebuilders, realtors, nonprofit housing organizations, environmental protection organizations, renewable energy organizations, and advocacy organizations for the elderly and persons with disabilities;CommentsClose CommentsPermalink
(3) approve, for a period not to exceed 10 years, additional adjustments in the maximum monthly rents, additional project rental assistance, or additional assistance under the Native American Housing Assistance and Self-Determination Act of 1996, as applicable, for dwelling units in multifamily housing projects that are provided project-based rental assistance under a covered multifamily assistance program, in such amounts as may be necessary to amortize a portion of the cost of energy efficiency and conservation measures for such projects;CommentsClose CommentsPermalink
(4) develop a competitive process for the award of such additional assistance for multifamily housing projects seeking to implement energy efficiency, renewable energy sources, or conservation measures; andCommentsClose CommentsPermalink
(5) waive or modify any existing statutory or regulatory provision that would otherwise impair the implementation or effectiveness of the demonstration program under this section, including provisions relating to methods for rent adjustments, comparability standards, maximum rent schedules, and utility allowances, except that the Secretary may not waive any statutory or regulatory requirement relating to fair housing, nondiscrimination, labor standards, or the environment.CommentsClose CommentsPermalink
(d) Requirement- During the 3-year period beginning upon the date of the enactment of this Act, the Secretary shall carry out demonstration programs under this section with respect to not fewer than 50,000 dwelling units.CommentsClose CommentsPermalink
(e) Selection-CommentsClose CommentsPermalink
(1) SCOPE- In order to provide a broad and representative profile for use in designing a program which can become operational and effective nationwide, the Secretary shall carry out the demonstration program under this section with respect to dwelling units located in a wide variety of geographic areas and project types assisted by the various covered multifamily assistance programs and using a variety of energy efficiency and conservation and funding techniques to reflect differences in climate, types of dwelling units and technical and scientific methodologies, and financing options. The Secretary shall ensure that the geographic areas included in the demonstration program include dwelling units on Indian lands (as such term is defined in section 2601 of the Energy Policy Act of 1992 (
(2) PRIORITY- The Secretary shall provide priority for selection for participation in the program under this section based on the extent to which, as a result of assistance provided under the program for the multifamily housing project, the project will comply with--CommentsClose CommentsPermalink
(A) the energy efficiency standard under section 2(a); andCommentsClose CommentsPermalink
(B) the energy efficiency and conservation standards, and the green building standards, under section 2(b) of such Act.CommentsClose CommentsPermalink
(f) Use of Existing Partnerships- The Secretary shall--CommentsClose CommentsPermalink
(1) utilize the Partnership for Advancing Technology in Housing of the Department of Housing and Urban Development to the extent feasible in carrying out this section and to provide education and outreach regarding the program under this section; andCommentsClose CommentsPermalink
(2) consult with the Secretary of Energy, the Administrator of the Environmental Protection Agency, and the Secretary of the Army regarding utilizing the Building America Program of the Department of Energy, the Energy Star Program, and the Army Corps of Engineers, respectively, to the extent feasible in carrying out this section and to provide education and outreach regarding the program under this section.CommentsClose CommentsPermalink
(g) Reports-CommentsClose CommentsPermalink
(1) ANNUAL- During the 3-year period beginning upon the date of the enactment of this Act, the Secretary shall submit a report to the Congress annually that describes and assesses the demonstration program under this section.CommentsClose CommentsPermalink
(2) FINAL- Not later than six months after the expiration of the 3-year period described in subsection (d), the Secretary shall submit a final report to the Congress assessing the demonstration program, which--CommentsClose CommentsPermalink
(A) shall assess the potential for expanding the demonstration program on a nationwide basis; andCommentsClose CommentsPermalink
(B) shall include descriptions of--CommentsClose CommentsPermalink
(i) the size of each multifamily housing project for which assistance was provided under the program;CommentsClose CommentsPermalink
(ii) the geographic location of each project assisted, by State and region;CommentsClose CommentsPermalink
(iii) the criteria used to select the projects for which assistance is provided under the program;CommentsClose CommentsPermalink
(iv) the energy efficiency and conservation measures and financing sources used for each project that is assisted under the program;CommentsClose CommentsPermalink
(v) the difference, before and during participation in the demonstration program, in the amount of the monthly assistance payments under the covered multifamily assistance program for each project assisted under the program;CommentsClose CommentsPermalink
(vi) the average length of the term of the such assistance provided under the program for a project;CommentsClose CommentsPermalink
(vii) the aggregate amount of savings generated by the demonstration program and the amount of savings expected to be generated by the program over time on a per-unit and aggregate program basis;CommentsClose CommentsPermalink
(viii) the functions performed in connection with the implementation of the demonstration program that were transferred or contracted out to any third parties;CommentsClose CommentsPermalink
(ix) an evaluation of the overall successes and failures of the demonstration program; andCommentsClose CommentsPermalink
(x) recommendations for any actions to be taken as a result of the such successes and failures.CommentsClose CommentsPermalink
(3) CONTENTS- Each annual report pursuant to paragraph (1) and the final report pursuant to paragraph (2) shall include--CommentsClose CommentsPermalink
(A) a description of the status of each multifamily housing project selected for participation in the demonstration program under this section; andCommentsClose CommentsPermalink
(B) findings from the program and recommendations for any legislative actions.CommentsClose CommentsPermalink
(h) Definitions- For purposes of this section, the following definitions shall apply:CommentsClose CommentsPermalink
(1) COVERED MULTIFAMILY ASSISTANCE PROGRAM- The term `covered multifamily assistance program' means--CommentsClose CommentsPermalink
(A) the program under section 8 of the United States Housing Act of 1937 (
(B) the program under section 202 of the Housing Act of 1959 (
(C) the program under section 811 of the Cranston-Gonzalez National Affordable Housing Act (
(D) the program for assistance under the Native American Housing Assistance and Self-Determination Act of 1996 (
(2) SECRETARY- The term `Secretary' means the Secretary of Housing and Urban Development.CommentsClose CommentsPermalink
(i) Regulations- Not later than the expiration of the 180-day period beginning on the date of the enactment of this Act, the Secretary shall issue any regulations necessary to carry out this section.CommentsClose CommentsPermalink
SEC. 4. ADDITIONAL CREDIT FOR FANNIE MAE AND FREDDIE MAC HOUSING GOALS FOR ENERGY EFFICIENT MORTGAGES.
Section 1336(a) of the Housing and Community Development Act of 1992 (
(1) in paragraph (2), by inserting `, except as provided in paragraph (4),' after `which'; andCommentsClose CommentsPermalink
(2) by adding at the end the following new paragraph:CommentsClose CommentsPermalink
`(5) ADDITIONAL CREDIT-CommentsClose CommentsPermalink
`(A) IN GENERAL- In assigning credit toward achievement under this section of the housing goals for mortgage purchase activities of the enterprises, the Director shall assign--CommentsClose CommentsPermalink
`(i) more than 125 percent credit, for such purchases that both--CommentsClose CommentsPermalink
`(I) comply with the requirements of such goals; andCommentsClose CommentsPermalink
`(II) support housing that meets the energy efficiency standards under section 2(a) of the Green Resources for Energy Efficient Neighborhoods Act of 2008; andCommentsClose CommentsPermalink
`(ii) credit in addition to credit under clause (i), for purchases that both--CommentsClose CommentsPermalink
`(I) comply with the requirements of such goals, andCommentsClose CommentsPermalink
`(II) support housing that complies with the energy efficiency and conservation standards, or the green building standards, under section 2(b) of such Act, or both,CommentsClose CommentsPermalink
and such additional credit shall be given based on the extent to which the housing supported with such purchases complies with such standards.CommentsClose CommentsPermalink
`(B) TREATMENT OF ADDITIONAL CREDIT- The availability of additional credit under this paragraph shall not be used to increase any housing goal, subgoal, or target established under this subpart.'.CommentsClose CommentsPermalink
SEC. 5. AUTHORITY OF HOUSING-RELATED GOVERNMENT-SPONSORED ENTERPRISES WITH RESPECT TO ENERGY-EFFICIENT AND LOCATION-EFFICIENT MORTGAGES AND REPORTING.
(a) Fannie Mae Purchase Authority- The Federal National Mortgage Association Charter Act is amended--CommentsClose CommentsPermalink
(1) in section 302(b) (
`(7) The mortgages specified in this subsection that the corporation is authorized to purchase, sell, service, lend on the security of, and otherwise deal in, shall include any such mortgages that are energy-efficient mortgages or location-efficient mortgages (as such terms are defined in section 1334A of Housing and Community Development Act of 1992).'; andCommentsClose CommentsPermalink
(2) in section 309 (
(A) in subsection (m)--CommentsClose CommentsPermalink
(i) in paragraph (1)--CommentsClose CommentsPermalink
(I) by redesignating subparagraphs (D) and (E) as subparagraphs (E) and (F), respectively; andCommentsClose CommentsPermalink
(II) by inserting after subparagraph (C) the following new subparagraph:CommentsClose CommentsPermalink
`(D) whether a particular mortgage purchased is an energy-efficient or location-efficient mortgage (as such terms are defined in section 1334A of Housing and Community Development Act of 1992);'; andCommentsClose CommentsPermalink
(ii) in paragraph (2)(D), by inserting before the closing parenthesis the following: `, and whether the mortgage is an energy-efficient or location-efficient mortgage (as such terms are defined in section 1334A of Housing and Community Development Act of 1992)'; andCommentsClose CommentsPermalink
(B) in subsection (n)(2)(C), by inserting before the semicolon the following: `and the extent to which the mortgages on single family and multifamily housing purchased by the corporation are energy-efficient or location efficient mortgages (as such terms are defined in section 1334A of Housing and Community Development Act of 1992)'.CommentsClose CommentsPermalink
(b) Freddie Mac Purchase Authority- The Federal Home Loan Mortgage Corporation Act is amended--CommentsClose CommentsPermalink
(1) in section 305(a) (
`(6) The mortgages specified in this subsection that the Corporation is authorized to purchase, sell, service, lend on the security of, and otherwise deal in, shall include any such mortgages that are energy-efficient mortgages or location-efficient mortgages (as such terms are defined in section 1334A of Housing and Community Development Act of 1992).'; andCommentsClose CommentsPermalink
(2) in section 307 (
(A) in subsection (e)--CommentsClose CommentsPermalink
(i) in paragraph (1)--CommentsClose CommentsPermalink
(I) by redesignating subparagraphs (D) and (E) as subparagraphs (E) and (F), respectively; andCommentsClose CommentsPermalink
(II) by inserting after subparagraph (C) the following new subparagraph:CommentsClose CommentsPermalink
`(D) whether a particular mortgage purchased is an energy-efficient or location-efficient mortgage (as such terms are defined in section 1334A of Housing and Community Development Act of 1992);'; andCommentsClose CommentsPermalink
(ii) in paragraph (2)(D), by inserting before the closing parenthesis the following: `, and whether the mortgage is an energy-efficient or location-efficient mortgage (as such terms are defined in section 1334A of Housing and Community Development Act of 1992)'; andCommentsClose CommentsPermalink
(B) in subsection (f)(2)(C), by inserting before the semicolon the following: `and the extent to which the mortgages on single family and multifamily housing purchased by the Corporation are energy-efficient or location efficient mortgages (as such terms are defined in section 1334A of Housing and Community Development Act of 1992)'.CommentsClose CommentsPermalink
(c) Federal Home Loan Bank Advance Authority- Section 10 of the Federal Home Loan Bank Act (
(1) in subsection (a), by adding at the end the following new paragraph:CommentsClose CommentsPermalink
`(7) ENERGY-EFFICIENT AND LOCATION-EFFICIENT RESIDENTIAL MORTGAGES- Funds from a long-term advance under this section provided to a member for residential housing finance under paragraph (2)(A), or to a community financial institution pursuant to paragraph (2)(B), may be used for energy-efficient mortgages or location-efficient mortgages (as such terms are defined in section 1334A of Housing and Community Development Act of 1992). The Board shall require each Federal Home Loan Bank to submit reports to the Board annually setting forth the extent of financing of energy-efficient mortgages and location-efficient mortgages by members using advances under this section, and the Board shall submit a report to the Congress annually compiling such information.'.CommentsClose CommentsPermalink
SEC. 6. ENERGY-EFFICIENT MORTGAGE AND LOCATION-EFFICIENT MORTGAGE GOALS FOR FANNIE MAE AND FREDDIE MAC.
(a) Purposes-CommentsClose CommentsPermalink
(1) FANNIE MAE- Section 301 of the Federal National Mortgage Association Charter Act (
(A) in paragraph (4), by striking `and' at the end;CommentsClose CommentsPermalink
(B) in paragraph (5), by striking the period at the end and inserting `; and'; andCommentsClose CommentsPermalink
(C) by adding at the end the following new paragraph:CommentsClose CommentsPermalink
`(6) promote and facilitate the use of energy-efficient mortgages and location-efficient mortgages.'.CommentsClose CommentsPermalink
(2) FREDDIE MAC- Subsection (b) of section 301 of the Federal Home Loan Mortgage Corporation Act (
(A) in paragraph (3), by striking `and' at the end;CommentsClose CommentsPermalink
(B) in paragraph (5), by striking the period at the end and inserting `; and'; andCommentsClose CommentsPermalink
(C) by adding at the end the following new paragraph:CommentsClose CommentsPermalink
`(5) to promote and facilitate the use of energy-efficient mortgages and location-efficient mortgages.'.CommentsClose CommentsPermalink
(b) Goals for Mortgage Purchases-CommentsClose CommentsPermalink
(1) IN GENERAL- The Housing and Community Development Act of 1992 is amended by inserting after section 1334 (
`SEC. 1334A. ENERGY-EFFICIENT AND LOCATION-EFFICIENT MORTGAGES GOALS.
`(a) In General- The Director shall establish annual goals for the purchase by each enterprise of mortgages, for single-family, owner-occupied housing, of each of the following types:CommentsClose CommentsPermalink
`(1) Energy-efficient mortgages.CommentsClose CommentsPermalink
`(2) Location-efficient mortgages.CommentsClose CommentsPermalink
`(b) Targets- The annual goals under this section for each enterprise shall be as follows:CommentsClose CommentsPermalink
`(1) ENERGY-EFFICIENT MORTGAGES- For energy efficient mortgages--CommentsClose CommentsPermalink
`(A) during the years 2012 through 2016, 5 percent of the mortgages for single-family, owner-occupied homes that are purchased during each such year by the enterprise;CommentsClose CommentsPermalink
`(B) during the years 2017 through 2021, 10 percent of such mortgages that are purchased during each such year by the enterprise; andCommentsClose CommentsPermalink
`(C) during 2022 and each year thereafter, 25 percent of such mortgages that are purchased during each such year by the enterprise.CommentsClose CommentsPermalink
`(2) LOCATION-EFFICIENT MORTGAGES- For location-efficient mortgages--CommentsClose CommentsPermalink
`(A) during the years 2012 through 2016, 3 percent of the mortgages for single-family, owner-occupied homes that are purchased during each such year by the enterprise;CommentsClose CommentsPermalink
`(B) during the years 2017 through 2021, 6 percent of such mortgages that are purchased during each such year by the enterprise; andCommentsClose CommentsPermalink
`(C) during 2022 and each year thereafter, 10 percent such mortgages that are purchased during each such year by the enterprise.CommentsClose CommentsPermalink
`(c) Plan and Reports- The Director shall require each enterprise--CommentsClose CommentsPermalink
`(1) not later than January 1, 2012, to develop and submit to the Director a plan that provides by 2020 for the use and purchase of energy-efficient mortgages in a manner designed to help achieve, in single-family homes financed with mortgages purchased by the enterprise, a 50 percent reduction in aggregate home energy use of fossil fuels (compared to the level of such use as of the date of the enactment of the Green Resources for Energy Efficient Neighborhoods Act of 2008) through reduced use of such fuels or transition to reliance on renewable energy resources, such as wind, solar, geothermal, or biomass, or any combination thereof; andCommentsClose CommentsPermalink
`(2) submit a report to the Congress annually that--CommentsClose CommentsPermalink
`(A) describes the extent of mortgage purchases described in subsection (b)(1) and of compliance with the goal established pursuant to such subsection;CommentsClose CommentsPermalink
`(B) describes the extent of mortgage purchases described in subsection (b)(2) and of compliance with the goal established pursuant to such subsection; andCommentsClose CommentsPermalink
`(C) the progress being made by the enterprise in carrying out the plan developed pursuant to paragraph (1) and toward the goal described in such paragraph.CommentsClose CommentsPermalink
`(d) Reports- Not later than December 31 of each year from 2012 through 2022, the Secretary of Housing and Urban Development shall submit to the Congress a report that--CommentsClose CommentsPermalink
`(1) identifies the potential markets for energy-efficient and location-efficient mortgages for single-family and multifamily housing and any existing barriers to wider use of such products; andCommentsClose CommentsPermalink
`(2) identifies any correlations between defaults on mortgages for single-family or multifamily housing and the extent of the energy efficiency and location efficiency of such housing.CommentsClose CommentsPermalink
`(e) Definitions- For purposes of this section, the following definitions shall apply:CommentsClose CommentsPermalink
`(1) The term `energy efficient mortgage' means a mortgage loan under which the income of the borrower, for purposes of qualification for such loan, is considered to be increased by not less than $1 for each $1 of savings projected to be realized by the borrower as a result of cost-effective energy saving construction or improvements (including use of renewable energy sources, such as geothermal, biomass, and wind, solar hot water heaters, solar-assisted air conditioners and ventilators, super-insulation, energy-saving windows, insulating glass and film, and radiant barrier) for the home for which the loan is made.CommentsClose CommentsPermalink
`(2) The term `location efficient mortgage' means a mortgage loan under which the income of the borrower, for purposes of qualification for such loan, is considered to be increased by not less than $1 for each $1 of savings projected to be realized by the borrower because the location of the home for which loan is made results in decreased transportation costs for the household of the borrower.'.CommentsClose CommentsPermalink
(2) REPORTS, ENFORCEMENT, AND CONFORMING AMENDMENTS- Title XIII of the Housing and Community Development Act of 1992 is amended--CommentsClose CommentsPermalink
(A) in subsection (b) of section 1324 (
12 U.S.C. 4542(b) )--CommentsClose CommentsPermalink
(i) in paragraph (4), by striking `and 1334' and inserting `1334, and 1334A';CommentsClose CommentsPermalink
(ii) by redesignating paragraphs (4) through (7) as paragraphs (5) through (8), respectively; andCommentsClose CommentsPermalink
(iii) by inserting after paragraph (3) the following new paragraph:CommentsClose CommentsPermalink
`(4) aggregate and analyze appropriate data to assess the compliance of each enterprise with the energy-efficient and location-efficient mortgages goals;';CommentsClose CommentsPermalink
(B) in subsection (a) of section 1331 (
12 U.S.C. 4561(a) )--CommentsClose CommentsPermalink
(i) by striking `and' before `a central cities'; andCommentsClose CommentsPermalink
(ii) by inserting before the period at the end of the first sentence the following: `, and energy-efficient and location-efficient mortgages goals pursuant to section 1334A';CommentsClose CommentsPermalink
(C) in section 1335 (
12 U.S.C. 4565 )--CommentsClose CommentsPermalink
(i) in the matter in subsection (a) that precedes paragraph (1)--CommentsClose CommentsPermalink
(I) by striking `and' before `the central cities'; andCommentsClose CommentsPermalink
(II) by inserting after `section 1334,' the following: `, and the energy-efficient and location-efficient mortgages goals pursuant to section 1334A';CommentsClose CommentsPermalink
(ii) in subsection (b), by striking `and 1334' and inserting `, 1334, and 1334A'; andCommentsClose CommentsPermalink
(D) in section 1336 (
12 U.S.C. 4566 )--CommentsClose CommentsPermalink
(i) in paragraph (1) of subsection (a), by striking `and 1334' and inserting `, 1334, and 1334A'; andCommentsClose CommentsPermalink
(ii) by striking `or 1334' each place such term appears and inserting `, 1334, or 1334A'.CommentsClose CommentsPermalink
SEC. 7. FHA ENERGY-EFFICIENT HOUSING REQUIREMENT.
(a) Requirement- Title V of the National Housing Act is amended by adding after section 542 (
`SEC. 543. ENERGY-EFFICIENT HOUSING REQUIREMENT.
`(a) In General- Subject only to sufficient authority to insure mortgages under this Act having an aggregate outstanding principal obligation in the amount provided under this subsection, in carrying out this Act the Secretary shall ensure that, at all times after December 31, 2012, the aggregate outstanding principal obligation of mortgages on single-family housing meeting the energy efficiency standards under section 2(a) of the Green Resources for Energy Efficient Neighborhoods Act of 2008 that are insured by the Secretary is not less than $1,000,000,000.CommentsClose CommentsPermalink
`(b) Authorization of Appropriations- There is authorized to be appropriated such sums as may be necessary for any additional costs (as such term is defined in section 502 of the Federal Credit Reform Act of 1990 (
2 U.S.C. 661a )) under this Act resulting from compliance with subsection (a).'.CommentsClose CommentsPermalink(b) Reporting on Defaults- Section 540(b)(2) of the National Housing Act (
12 U.S.C. 1735f-18(b)(2) ) is amended by adding at the end the following new paragraph:CommentsClose CommentsPermalink
`(3) With respect to each collection period that commences after December 31, 2011, the total number of mortgages on single-family housing meeting the energy efficiency standards under section 2(a) of the Green Resources for Energy Efficient Neighborhoods Act of 2008 that are insured by the Secretary during the applicable collection period, the number of defaults and foreclosures occurring on such mortgages during such period, the percentage of the total of such mortgages insured during such period on which defaults and foreclosure occurred, and the rate for such period of defaults and foreclosures on such mortgages compared to the overall rate for such period of defaults and foreclosures on mortgages for single-family housing insured by the Secretary.'.CommentsClose CommentsPermalink
SEC. 8. ENERGY EFFICIENT MORTGAGES EDUCATION AND OUTREACH CAMPAIGN.
Section 513 of the Housing and Community Development Act of 1992 (
`(g) Education and Outreach Campaign- The Secretary, in consultation and coordination with the Secretary of Energy, the Secretary of Education, and the Administrator of the Environmental Protection Agency, shall carry out a public awareness, education, and outreach campaign to inform and educate residential lenders and prospective borrowers regarding the availability, benefits, advantages, and terms of energy efficient mortgages made available pursuant to this section, energy efficient mortgages that meet the requirements of section 1334A of this Act, and other mortgages, including mortgages for multifamily housing, that have energy improvement features and to publicize such availability, benefits, advantages, and terms. Such actions may include entering into a contract with an appropriate entity to publicize and market such mortgages through appropriate media.'.CommentsClose CommentsPermalink
SEC. 9. COLLECTION OF INFORMATION ON ENERGY-EFFICIENT AND LOCATION EFFICIENT MORTGAGES THROUGH HOME MORTGAGE DISCLOSURE ACT.
(a) In General- Section 304(b)(1) of the Home Mortgage Disclosure Act of 1975 (
(1) in paragraph (3), by striking `and' at the end;CommentsClose CommentsPermalink
(2) in paragraph (4), by striking the period at the end and inserting a semicolon; andCommentsClose CommentsPermalink
(3) by adding at the end the following new paragraphs:CommentsClose CommentsPermalink
`(5) the number and dollar amount of mortgage loans for single-family housing and for multifamily housing that are energy-efficient mortgages (as such term is defined in section 1334A of Housing and Community Development Act of 1992); andCommentsClose CommentsPermalink
`(6) the number and dollar amount of mortgage loans for single-family housing and for multifamily housing that are location-efficient mortgages (as such term is defined in section 1334A of Housing and Community Development Act of 1992).'.CommentsClose CommentsPermalink
(b) Applicability- The amendment made by subsection (a) shall apply with respect to the first calendar year that begins after the expiration of the 30-day period beginning on the date of the enactment of this Act.CommentsClose CommentsPermalink
SEC. 10. ENSURING AVAILABILITY OF HOMEOWNERS INSURANCE FOR HOMES NOT CONNECTED TO ELECTRICITY GRID.
(a) In General- In the case of any covered structure (as such term is defined in subsection (d)), it shall be unlawful for any insurer to deny homeowners insurance coverage for the structure, or to otherwise discriminate in the issuance, cancellation, amount of such coverage, or conditions of such coverage for the structure, based solely and without any additional actuarial risks upon the fact that the structure is not connected to, or able to receive electricity service from, any wholesale or retail electric power provider.CommentsClose CommentsPermalink
(b) Consideration of Actuarial Risk- Subsection (a) may not be construed to prevent any insurer from charging rates for homeowners insurance coverage for a structure that are based on a good faith actuarial analysis of the risk associated with the structure not being connected to, or able to receive electricity service from, any wholesale or retail electric power provide. Any good faith analysis of such risk shall include analysis of the manner in which electric power for the structure is provided.CommentsClose CommentsPermalink
(c) Insuring Homes and Related Property in Indian Areas- Notwithstanding any other provision of law, covered structures located in Indian areas (as such term is defined in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 (
(d) Covered Structure- For purposes of this section, the term `covered structure' means a residential structure that--CommentsClose CommentsPermalink
(1) consists of one to four dwelling units;CommentsClose CommentsPermalink
(2) is provided power, heat, or electricity from renewable energy sources (such as solar, wind, geothermal, or biomass) or a fuel cell; andCommentsClose CommentsPermalink
(3) is not connected to any wholesale or retail electrical power grid.CommentsClose CommentsPermalink
SEC. 11. MORTGAGE INCENTIVES FOR ENERGY-EFFICIENT MULTIFAMILY HOUSING.
(a) In General- The Secretary of Housing and Urban Development shall establish incentives for increasing the energy efficiency of multifamily housing that is subject to a mortgage to be insured under title II of the National Housing Act (
(b) Incentives- Such incentives--CommentsClose CommentsPermalink
(1) shall include, for any such multifamily housing that complies with the energy efficiency standards under section 2(a), providing a discount on the chargeable premiums for the mortgage insurance for such housing from the amount otherwise chargeable for such mortgage insurance; andCommentsClose CommentsPermalink
(2) may include--CommentsClose CommentsPermalink
(A) allowing mortgages to exceed the dollar amount limits otherwise applicable under law to the extent such additional amounts are used to finance improvements or measures designed to meet the standards referred to in subsection (a); andCommentsClose CommentsPermalink
(B) reducing the amount that the owner of such multifamily housing meeting the standards referred to in subsection (a) is required to contribute.CommentsClose CommentsPermalink
SEC. 12. ENERGY EFFICIENCY CERTIFICATIONS FOR HOUSING WITH MORTGAGES INSURED BY FHA.
Section 526(a) of the National Housing Act (
(1) in subsection (a)--CommentsClose CommentsPermalink
(A) by striking `, other than manufactured homes,' each place such term appears; andCommentsClose CommentsPermalink
(B) by inserting after the period at the end the following: `The energy performance requirements developed and established by the Secretary under this section for manufactured homes shall require such homes to comply with the most recent version of the National Fire Protection Association standard 501, and shall require energy star rating for wall fixtures, appliances, and equipment in such housing'CommentsClose CommentsPermalink
(2) by inserting `(1)' after `(a)';CommentsClose CommentsPermalink
(3) by adding at the end the following new paragraphs:CommentsClose CommentsPermalink
`(2) The Secretary shall require, with respect to any single- or multi-family residential housing subject to a mortgage insured under this Act, that any approval or certification of the housing for meeting any energy efficiency or conservation criteria, standards, or requirements pursuant to this title and any approval or certification required pursuant to this title with respect to energy conserving improvements or any renewable energy sources, such as wind, solar energy geothermal, or biomass, shall be conducted only by an individual certified by a home energy rating system provider who has been accredited to conduct such ratings by the Home Energy Ratings System Council, the Residential Energy Services Network, or such other appropriate national organization, as the Secretary may provide. If any organization makes a request to the Secretary for approval to accredit individuals to conduct energy efficiency or conservation ratings, the Secretary shall review and approve or disapprove such request not later than the expiration of the 6-month period beginning upon receipt of such request.CommentsClose CommentsPermalink
`(3) The Secretary shall periodically examine the method used to conduct inspections for compliance with the requirements under this section, analyze various other approaches for conducting such inspections, and review the costs and benefits of the current method compared with other methods.'; andCommentsClose CommentsPermalink
(4) in subsection (b), by striking `, other than a manufactured home,'.CommentsClose CommentsPermalink
SEC. 13. ASSISTED HOUSING ENERGY LOAN PROGRAM.
(a) Authority- The Secretary of Housing and Urban Development (in this section referred to as the `Secretary') shall carry out a program under this section to facilitate the financing of cost-effective capital improvements for covered assisted housing projects to improve the energy efficiency and conservation of such projects.CommentsClose CommentsPermalink
(b) Loans- The program under this section shall provide for a privately financed loan to be made for a covered assisted housing project, which shall--CommentsClose CommentsPermalink
(1) finance capital improvements for the project that meet such requirements as the Secretary shall establish, and may involve contracts with third parties to perform such capital improvements;CommentsClose CommentsPermalink
(2) have a term to maturity of not more than 20 years, which shall be based upon the duration necessary to realize cost savings sufficient to repay the loan;CommentsClose CommentsPermalink
(3) be secured by a mortgage subordinate to the mortgage for the project that is insured under the National Housing Act; andCommentsClose CommentsPermalink
(4) provide for a reduction in the remaining principal obligation under the loan based on the actual resulting cost savings realized from the capital improvements financed with the loan.CommentsClose CommentsPermalink
(c) Underwriting Standards- The Secretary shall establish underwriting requirements for loans made under the program under this section, which shall--CommentsClose CommentsPermalink
(1) require the cost savings projected to be realized from the capital improvements financed with the loan, during the term of the loan, to exceed the costs of repaying the loan;CommentsClose CommentsPermalink
(2) allow the contractor involved in designing capital improvements to be financed with a loan under the program to carry out such capital improvements; andCommentsClose CommentsPermalink
(3) include such energy, audit, property, financial, ownership, and approval requirements as the Secretary considers appropriate.CommentsClose CommentsPermalink
(d) Treatment of Savings- The program under this section shall provide that the project owner shall receive the full financial benefit from any reduction in the cost of utilities resulting from capital improvements financed with a loan made under the program.CommentsClose CommentsPermalink
(e) Covered Assisted Housing Projects- For purposes of this section, the term `covered assisted housing project' means a housing project that--CommentsClose CommentsPermalink
(1) is financed by a loan or mortgage that is--CommentsClose CommentsPermalink
(A) insured by the Secretary under subsection (d)(3) or (d)(4) of section 221 of the National Housing Act (
(B) insured or assisted under section 236 of the National Housing Act (
(2) at the time a loan under this section is made, is provided project-based rental assistance under section 8 of the United States Housing Act of 1937 (
Such term does not include any housing project owned or held by the Secretary, or that is subject to a mortgage held by the Secretary.CommentsClose CommentsPermalink
(f) Pilot Program- Not later than the expiration of the 12-month period beginning on the date of the enactment of this Act, the Secretary shall implement and commence the program under this section on a pilot basis, which shall involve not fewer than 3 and not more than 5 lenders.CommentsClose CommentsPermalink
SEC. 14. MAKING IT GREEN.
(a) Partnerships With Tree-Planting Organizations- The Secretary shall establish and provide incentives for developers of housing for which any financial assistance is provided by the Secretary for development, maintenance, operation, or other costs, to enter into agreements and partnerships with tree-planting organizations, nurseries, and landscapers to certify that trees, shrubs, grasses, and other plants are planted in the proper manner, are provided adequate maintenance, and survive for at least three years after planting or are replaced.CommentsClose CommentsPermalink
(b) Plan for Assisted Housing- In the case of any new or substantially improved housing for which financial assistance is provided by the Secretary for the development, construction, maintenance, rehabilitation, improvement, operation, or costs of the housing, the Secretary shall require the development of a plan that provides for--CommentsClose CommentsPermalink
(1) in the case of new construction and improvements, siting of such housing and improvements in a manner that provides for energy efficiency and conservation to the extent feasible, taking into consideration location and project type;CommentsClose CommentsPermalink
(2) not less than 50 percent of the total area of paved surfaces at the site of such housing to be shaded, consist of greenspace, be covered by solar energy panels or greenroofs, or be part of a geothermal piping system;CommentsClose CommentsPermalink
(3) how any construction, rehabilitation, or other development will affect and minimize the effects of construction, rehabilitation, or other development on the condition of existing trees;CommentsClose CommentsPermalink
(4) selection and installation of trees, shrubs, grasses, and other plants based upon applicable design guidelines and standards of the International Society for Arboriculture;CommentsClose CommentsPermalink
(5) post-planting care and maintenance of the landscaping relating to or affected by the housing in accordance with best management practices; andCommentsClose CommentsPermalink
(6) establishment of a goal for minimum greenspace or tree canopy cover for the housing site for which such financial assistance is provided, including guidelines and timetables within which to achieve compliance with such minimum requirements.CommentsClose CommentsPermalink
(c) Partnerships- In carrying out this section, the Secretary of Housing and Urban Development shall consult with national organizations dedicated to providing housing assistance and related services to low-income families, the Alliance for Community Trees and its affiliates, the American Nursery and Landscape Association, the American Society of Landscape Architects, and the National Arbor Day Foundation, and shall take such actions as are appropriate to establish, and encourage the establishment, of such agreements and working partnerships between such organization and its affiliates and recipients of assistance from the Department of Housing and Urban Development for the development, maintenance, operation, or costs of housing.CommentsClose CommentsPermalink
SEC. 15. RESIDENTIAL ENERGY EFFICIENCY BLOCK GRANT PROGRAM.
Title I of the Housing and Community Development Act of 1974 (
`SEC. 123. RESIDENTIAL ENERGY EFFICIENCY BLOCK GRANT PROGRAM.
`(a) In General- To the extent amounts are made available for grants under this section, the Secretary of Housing and Urban Development shall make grants under this section to States, metropolitan cities and urban counties, Indian tribes, and insular areas to carry out energy efficiency improvements in new and existing single-family and multifamily housing.CommentsClose CommentsPermalink
`(b) Allocations-CommentsClose CommentsPermalink
`(1) IN GENERAL- Of the total amount made available for each fiscal year for grants under this section that remains after reserving amounts pursuant to paragraph (2), the Secretary shall allocate for insular areas, for metropolitan cities and urban counties, and for States, an amount that bears the same ratio to such total amount as the amount allocated for such fiscal year under section 106 for Indian tribes, for insular areas, for metropolitan cities and urban counties, and for States, respectively, bears to the total amount made available for such fiscal year for grants under section 106.CommentsClose CommentsPermalink
`(2) SET ASIDE FOR INDIAN TRIBES- Of the total amount made available for each fiscal year for grants under this section, the Secretary shall allocate not less than one percent to Indian tribes.CommentsClose CommentsPermalink
`(c) Grant Amounts-CommentsClose CommentsPermalink
`(1) ENTITLEMENT COMMUNITIES- From the amounts allocated pursuant to subsection (b) for metropolitan cities and urban counties for each fiscal year, the Secretary shall make a grant for such fiscal year to each metropolitan city and urban county that complies with the requirement under subsection (d), in the amount that bears the same ratio such total amount so allocated as the amount of the grant for such fiscal year under section 106 for such metropolitan city or urban county bears to the aggregate amount of all grants for such fiscal year under section 106 for all metropolitan cities and urban counties.CommentsClose CommentsPermalink
`(2) STATES- From the amounts allocated pursuant to subsection (b) for States for each fiscal year, the Secretary shall make a grant for such fiscal year to each State that complies with the requirement under subsection (d), in the amount that bears the same ratio such total amount so allocated as the amount of the grant for such fiscal year under section 106 for such State bears to the aggregate amount of all grants for such fiscal year under section 106 for all States. Grant amounts received by a State shall be used only for eligible activities under subsection (e) carried out in nonentitlement areas of the State.CommentsClose CommentsPermalink
`(3) INDIAN TRIBES- From the amounts allocated pursuant to subsection (b) for Indian tribes, the Secretary shall make grants to Indian tribes that comply with the requirement under subsection (d) on the basis of a competition conducted pursuant to specific criteria, as the Secretary shall establish by regulation, for the selection of Indian tribes to receive such amount.CommentsClose CommentsPermalink
`(4) INSULAR AREAS- From the amounts allocated pursuant to subsection (b) for insular areas, the Secretary shall make a grant to each insular area that complies with the requirement under subsection (d) on the basis of the ratio of the population of the insular area to the aggregate population of all insular areas. In determining the distribution of amounts to insular areas, the Secretary may also include other statistical criteria as data become available from the Bureau of Census of the Department of Labor, but only if such criteria are set forth by regulation issued after notice and an opportunity for comment.CommentsClose CommentsPermalink
`(d) Statement of Activities-CommentsClose CommentsPermalink
`(1) REQUIREMENT- Before receipt the receipt in any fiscal year of a grant under subsection (c) by any grantee, the grantee shall have prepared a final statement of housing energy efficiency objectives and projected use of funds as the Secretary shall require and shall have provided the Secretary with such certifications regarding such objectives and use as the Secretary may require. In the case of metropolitan cities, urban counties, units of general local government, and insular areas receiving grants, the statement of projected use of funds shall consist of proposed housing energy efficiency activities. In the case of States receiving grants, the statement of projected use of funds shall consist of the method by which the States will distribute funds to units of general local government.CommentsClose CommentsPermalink
`(2) PUBLIC PARTICIPATION- The Secretary may establish requirements to ensure the public availability of information regarding projected use of grant amounts and public participation in determining such projected use.CommentsClose CommentsPermalink
`(e) Eligible Activities-CommentsClose CommentsPermalink
`(1) REQUIREMENT- Amounts from a grant under this section may be used only to carry out activities for single-family or multifamily housing that are designed to improve the energy efficiency of the housing so that the housing complies with the energy efficiency standard under section 2(a) of the Green Resources for Energy Efficient Neighborhoods Act of 2008, including such activities to provide energy for such housing from renewable sources, such as wind, waves, solar, biomass, and geothermal sources.CommentsClose CommentsPermalink
`(2) PREFERENCE FOR COMPLIANCE BEYOND MINIMUM REQUIREMENTS- In selecting activities to be funded with amounts from a grant under this section, a grantee shall give more preference to activities based on the extent to which the activities will result in compliance by the housing with the energy efficiency and conservation standards, and the green building standards, under section 2(b) of such Act.CommentsClose CommentsPermalink
`(f) Reports- Each grantee of a grant under this section for a fiscal year shall submit to the Secretary, at a time determined by the Secretary, a performance and evaluation report concerning the use of grant amounts, which shall contain an assessment by the grantee of the relationship of such use to the objectives identified in the grantees statement under subsection (d).CommentsClose CommentsPermalink
`(g) Applicability of CDBG Provisions- Sections 109 (relating to nondiscrimination), 110 (relating to labor standards), and 111 (relating to remedies for noncompliance) of the Housing and Community Development Act of 1974 (
42 U.S.C. 5309 , 5310, 5311) shall apply to assistance received under this section to the same extent and in the same manner that such sections apply to assistance received under title I of such Act.'.CommentsClose CommentsPermalink
SEC. 16. INCLUDING SUSTAINABLE DEVELOPMENT IN COMPREHENSIVE HOUSING AFFORDABILITY STRATEGIES.
Section 105(b) of the Cranston-Gonzalez National Affordable Housing Act of 1990 (
(1) by striking `and' at the end of paragraph (19);CommentsClose CommentsPermalink
(2) by striking the period at the end of paragraph (20) and inserting `; and';CommentsClose CommentsPermalink
(3) and by inserting after paragraph (20) the following:CommentsClose CommentsPermalink
`(21) describe the jurisdiction's strategies to encourage sustainable development for affordable housing, including single-family and multifamily housing, as measured by--CommentsClose CommentsPermalink
`(A) greater energy efficiency and use of renewable energy sources, including any strategies regarding compliance with the energy efficiency requirements under section 2(a) of the Green Resources for Energy Efficient Neighborhoods Act of 2008 and with the energy efficiency and conservation standards, and the green building standards, under section 2(b) of such Act;CommentsClose CommentsPermalink
`(B) increased conservation, recycling, and reuse of resources;CommentsClose CommentsPermalink
`(C) more effective use of existing infrastructure;CommentsClose CommentsPermalink
`(D) use of building materials and methods that are healthier for residents of the housing, including use of building materials that are free of added known carcinogens that are classified as Group 1 Known Carcinogens by the International Agency for Research on Cancer; andCommentsClose CommentsPermalink
`(E) such other criteria as the Secretary determines, in consultation with the Secretary of Energy, the Secretary of Agriculture, and the Administrator of the Environmental Protection Agency, are in accordance with the purposes of this paragraph.'.CommentsClose CommentsPermalink
SEC. 17. GRANT PROGRAM TO INCREASE SUSTAINABLE LOW-INCOME COMMUNITY DEVELOPMENT CAPACITY.
(a) In General- The Secretary of Housing and Urban Development may make grants to nonprofit organizations to use for any of the following purposes:CommentsClose CommentsPermalink
(1) Training, educating, supporting, or advising an eligible community development organization in improving energy efficiency, resource conservation and reuse, installing or constructing renewable energy improvements (such as wind, wave, solar, biomass, and geothermal energy sources), and effective use of existing infrastructure in affordable housing and economic development activities in low-income communities, taking into consideration energy efficiency requirements under section 2(a) of this Act and with the energy efficiency and conservation standards, and the green building standards, under section 2(b) of this Act.CommentsClose CommentsPermalink
(2) Providing loans, grants, or predevelopment assistance to eligible community development organizations to carry out energy efficiency improvements that comply with the energy efficiency requirements under section 2(a) of this Act, resource conservation and reuse, and effective use of existing infrastructure in affordable housing and economic development activities in low-income communities. In providing assistance under this paragraph, the Secretary shall give more preference to activities based on the extent to which the activities will result in compliance with the energy efficiency and conservation standards, and the green building standards, under section 2(b) of this Act.CommentsClose CommentsPermalink
(3) Such other purposes as the Secretary determines are in accordance with the purposes of this subsection.CommentsClose CommentsPermalink
(b) Application Requirement- To be eligible for a grant under this section, a nonprofit organization shall prepare and submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require.CommentsClose CommentsPermalink
(c) Matching Requirement- A grant made under this section may not exceed the amount that the nonprofit organization receiving the grant certifies, to the Secretary, will be provided (in cash or in kind) from non-governmental sources to carry out the purposes for which the grant is made.CommentsClose CommentsPermalink
(d) Definitions- For purposes of this section, the following definitions shall apply:CommentsClose CommentsPermalink
(1) The term `nonprofit organization' has the meaning given such term in section 104 of the Cranston-Gonzalez National Affordable Housing Act (
(2) The term `eligible community development organization' means--CommentsClose CommentsPermalink
(A) a unit of general local government (as defined in section 104 of the Cranston-Gonzalez National Affordable Housing Act (
(B) a community housing development organization (as defined in section 104 of the Cranston-Gonzalez National Affordable Housing Act (
(C) an Indian tribe or tribally designated housing entity (as such terms are defined in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 (
(3) The term `low-income community' means a census tract in which 50 percent or more of the households have an income which is less than 80 percent of the greater of--CommentsClose CommentsPermalink
(A) the median gross income for such year for the area in which such census tract is located; orCommentsClose CommentsPermalink
(B) the median gross income for such year for the State in which such census tract is located.CommentsClose CommentsPermalink
(e) Authorization of Appropriations- There are authorized to be appropriated to the Secretary to carry out this section $10,000,000 for each of fiscal years 2008 through 2012.CommentsClose CommentsPermalink
SEC. 18. UTILIZATION OF ENERGY PERFORMANCE CONTRACTS IN HOPE VI.
Section 24(d) of the United States Housing Act of 1937 (
`(3) ENERGY PERFORMANCE CONTRACTS-CommentsClose CommentsPermalink
`(A) IN GENERAL- The Secretary shall provide that a public housing agency shall receive the full financial benefit from any reduction in the cost of utilities resulting from any contract with a third party to undertake energy conservation improvements in connection with a revitalization plan under this section.CommentsClose CommentsPermalink
`(B) THIRD PARTY CONTRACTS- Contracts described in subparagraph (A) may include contracts for equipment conversions to less costly utility sources, projects with resident-paid utilities, and adjustments to frozen base year consumption, including systems repaired to meet applicable building and safety codes and adjustments for occupancy rates increased by rehabilitation.CommentsClose CommentsPermalink
`(C) TERM OF CONTRACT- The total term of a contract described in subparagraph (A) shall not exceed 20 years to allow longer payback periods for retrofits, including windows, heating system replacements, wall insulation, site-based generation, advanced energy savings technologies, including renewable energy generation, and other such retrofits.CommentsClose CommentsPermalink
`(D) EXTENSION OF EXISTING CONTRACTS- The term of a contract described in subparagraph (A) that, as of the date of the enactment of the Green Resources for Energy Efficient Neighborhoods Act of 2008 is in repayment and has a term of not more than 12 years, may be extended to a term of not more than 20 years to permit additional energy conservation improvements without requiring the re-procurement of energy performance contractors.'.CommentsClose CommentsPermalink
SEC. 19. HOPE VI GREEN DEVELOPMENTS REQUIREMENT.
(a) Mandatory Component- Section 24(e) of the United States Housing Act of 1937 (
`(4) GREEN DEVELOPMENTS REQUIREMENT-CommentsClose CommentsPermalink
`(A) REQUIREMENT- The Secretary may not make a grant under this section to an applicant unless the proposed revitalization plan of the applicant to be carried out with such grant amounts meets the following requirements:CommentsClose CommentsPermalink
`(i) GREEN COMMUNITIES CRITERIA CHECKLIST- All residential construction under the proposed plan complies with the national Green Communities criteria checklist for residential construction that provides criteria for the design, development, and operation of affordable housing, as such checklist is in effect for purposes of this paragraph pursuant to subparagraph (D) at the date of the application for the grant, or any substantially equivalent standard or standards as determined by the Secretary, as follows:CommentsClose CommentsPermalink
`(I) The proposed plan shall comply with all items of the national Green Communities criteria checklist for residential construction that are identified as mandatory.CommentsClose CommentsPermalink
`(II) The proposed plan shall comply with such other nonmandatory items of such national Green Communities criteria checklist so as to result in a cumulative number of points attributable to such nonmandatory items under such checklist of not less than--CommentsClose CommentsPermalink
`(aa) 25 points, in the case of any proposed plan (or portion thereof) consisting of new construction; andCommentsClose CommentsPermalink
`(bb) 20 points, in the case of any proposed plan (or portion thereof) consisting of rehabilitation.CommentsClose CommentsPermalink
`(ii) GREEN BUILDINGS CERTIFICATION SYSTEM- All non-residential construction under the proposed plan complies with all minimum required levels of the green building rating systems and levels identified by the Secretary pursuant to subparagraph (C), as such systems and levels are in effect for purposes of this paragraph pursuant to subparagraph (D) at the time of the application for the grant.CommentsClose CommentsPermalink
`(B) VERIFICATION-CommentsClose CommentsPermalink
`(i) IN GENERAL- The Secretary shall verify, or provide for verification, sufficient to ensure that each proposed revitalization plan carried out with amounts from a grant under this section complies with the requirements under subparagraph (A) and that the revitalization plan is carried out in accordance with such requirements and plan.CommentsClose CommentsPermalink
`(ii) TIMING- In providing for such verification, the Secretary shall establish procedures to ensure such compliance with respect to each grantee, and shall report to the Congress with respect to the compliance of each grantee, at each of the following times:CommentsClose CommentsPermalink
`(I) Not later than 60 days after execution of the grant agreement under this section for the grantee.CommentsClose CommentsPermalink
`(II) Upon completion of the revitalization plan of the grantee.CommentsClose CommentsPermalink
`(C) IDENTIFICATION OF GREEN BUILDINGS RATING SYSTEMS AND LEVELS-CommentsClose CommentsPermalink
`(i) IN GENERAL- For purposes of this paragraph, the Secretary shall identify rating systems and levels for green buildings that the Secretary determines to be the most likely to encourage a comprehensive and environmentally-sound approach to ratings and standards for green buildings. The identification of the ratings systems and levels shall be based on the criteria specified in clause (ii), shall identify the highest levels the Secretary determines are appropriate above the minimum levels required under the systems selected. Within 90 days of the completion of each study required by clause (iii), the Secretary shall review and update the rating systems and levels, or identify alternative systems and levels for purposes of this paragraph, taking into account the conclusions of such study.CommentsClose CommentsPermalink
`(ii) CRITERIA- In identifying the green rating systems and levels, the Secretary shall take into consideration--CommentsClose CommentsPermalink
`(I) the ability and availability of assessors and auditors to independently verify the criteria and measurement of metrics at the scale necessary to implement this paragraph;CommentsClose CommentsPermalink
`(II) the ability of the applicable ratings system organizations to collect and reflect public comment;CommentsClose CommentsPermalink
`(III) the ability of the standards to be developed and revised through a consensus-based process;CommentsClose CommentsPermalink
`(IV) An evaluation of the robustness of the criteria for a high-performance green building, which shall give credit for promoting--CommentsClose CommentsPermalink
`(aa) efficient and sustainable use of water, energy, and other natural resources;CommentsClose CommentsPermalink
`(bb) use of renewable energy sources;CommentsClose CommentsPermalink
`(cc) improved indoor and outdoor environmental quality through enhanced indoor and outdoor air quality, thermal comfort, acoustics, outdoor noise pollution, day lighting, pollutant source control, sustainable landscaping, and use of building system controls and low- or no-emission materials, including preference for materials with no added carcinogens that are classified as Group 1 Known Carcinogens by the International Agency for Research on Cancer; andCommentsClose CommentsPermalink
`(dd) such other criteria as the Secretary determines to be appropriate; andCommentsClose CommentsPermalink
`(V) national recognition within the building industry.CommentsClose CommentsPermalink
`(iii) 5-year EVALUATION- At least once every five years, the Secretary shall conduct a study to evaluate and compare available third-party green building rating systems and levels, taking into account the criteria listed in clause (ii).CommentsClose CommentsPermalink
`(D) APPLICABILITY AND UPDATING OF STANDARDS-CommentsClose CommentsPermalink
`(i) APPLICABILITY- Except as provided in clause (ii) of this subparagraph, the national Green Communities criteria checklist and green building rating systems and levels referred to in clauses (i) and (ii) of subparagraph (A) that are in effect for purposes of this paragraph are such checklist systems, and levels as in existence upon the date of the enactment of the Green Resources for Energy Efficient Neighborhoods Act of 2008.CommentsClose CommentsPermalink
`(ii) UPDATING- The Secretary may, by regulation, adopt and apply, for purposes of this paragraph, future amendments and supplements to, and editions of, the national Green Communities criteria checklist, any standard or standards that the Secretary has determined to be substantially equivalent to such checklist, and the green building ratings systems and levels identified by the Secretary pursuant to subparagraph (C).'.CommentsClose CommentsPermalink
(b) Selection Criteria; Graded Component- Section 24(e)(2) of the United States Housing Act of 1937 (
42 U.S.C. 1437v(e)(2) ) is amended--CommentsClose CommentsPermalink
(1) in subparagraph (K), by striking `and' at the end;CommentsClose CommentsPermalink
(2) by redesignating subparagraph (L) as subparagraph (M); andCommentsClose CommentsPermalink
(3) by inserting after subparagraph (K) the following new subparagraph:CommentsClose CommentsPermalink
`(L) the extent to which the proposed revitalization plan--CommentsClose CommentsPermalink
`(i) in the case of residential construction, complies with the nonmandatory items of the national Green Communities criteria checklist identified in paragraph (4)(A)(i), or any substantially equivalent standard or standards as determined by the Secretary, but only to the extent such compliance exceeds the compliance necessary to accumulate the number of points required under such paragraph; andCommentsClose CommentsPermalink
`(ii) in the case of non-residential construction, complies with the components of the green building rating systems and levels identified by the Secretary pursuant to paragraph (4)(C), but only to the extent such compliance exceeds the minimum level required under such systems and levels; and'.CommentsClose CommentsPermalink
SEC. 20. COMMUNITY REINVESTMENT ACT CREDITS FOR ENERGY EFFICIENT MORTGAGES AND GREEN BUILDING EFFORTS.
Section 804 of the Community Reinvestment Act of 1977 (
`(d) Energy Efficient Mortgages and Green Building Efforts-CommentsClose CommentsPermalink
`(1) EVALUATION- In assessing and taking into account, under subsection (a), the record of a financial institution, the appropriate Federal financial supervisory agency shall consider, as a factor, capital investments, loan participation, and other ventures undertaken by the institution to support or enable--CommentsClose CommentsPermalink
`(A) the use of energy efficient and energy improvement mortgages by low-income, first-time, and other homebuyers;CommentsClose CommentsPermalink
`(B) compliance of housing with the energy efficiency requirements under section 2 of the Green Resources for Energy Efficient Neighborhoods Act of 2008 and with the energy efficiency and conservation standards, and the green building standards, under section 2(b) of such Act;CommentsClose CommentsPermalink
`(C) neighborhood planning in a manner that is consistent with environmental regulations, plans, and tree ordinances;CommentsClose CommentsPermalink
`(D) green building principles that increase the efficiency of buildings and their use of energy, water, and materials, and minimize building impacts on human health and the environment, through better siting, design, construction, operation, maintenance, and specification of materials that have no added known carcinogens that are classified as Group 1 Known Carcinogens by the International Agency for Research on Cancer and whose manufacturing processes are exempt from Environmental Protection Agency regulations limiting manufacturing emissions of hazardous air pollutants listed in section 112(b) of the Clean Air Act (
42 U.S.C. 7412(b) ), especially hazardous air pollutants that are classified as such Group 1 Known Carcinogens;CommentsClose CommentsPermalink`(E) generation and distribution of renewable energy;CommentsClose CommentsPermalink
`(F) creation of employment opportunities in positions that involve the design, manufacture, installation, operation, or maintenance of renewable energy and energy efficiency technologies and landscaping or by companies or organizations whose mission or purpose is to improve environmental quality; orCommentsClose CommentsPermalink
`(G) funding for energy-conserving and clean energy technologies.CommentsClose CommentsPermalink
`(2) TECHNICAL ASSISTANCE- To encourage and facilitate activities described in subparagraphs (A) through (F) of paragraph (1), each appropriate Federal financial supervisory agency, the Secretary of Energy, the Secretary of Housing and Urban Development, and the Secretary of Agriculture shall make available and provide technical assistance to financial institutions in carrying out or providing such activities.'.CommentsClose CommentsPermalink
SEC. 21. CONSIDERATION OF ENERGY-EFFICIENCY IMPROVEMENTS IN APPRAISALS.
(a) Appraisals in Connection With Federally Related Transactions-CommentsClose CommentsPermalink
(1) REQUIREMENT- Section 1110 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (
(A) in paragraph (1), by striking `and' at the end;CommentsClose CommentsPermalink
(B) by redesignating paragraph (2) as paragraph (3); andCommentsClose CommentsPermalink
(C) by inserting after paragraph (1) the following new paragraph:CommentsClose CommentsPermalink
`(2) that such appraisals be performed in accordance with appraisal standards that require, in determining the value of a property, consideration of any renewable energy sources for, or energy-efficiency or energy-conserving improvements or features of, the property; and'.CommentsClose CommentsPermalink
(2) REVISION OF APPRAISAL STANDARDS- Each Federal financial institutions regulatory agency shall, not later than 6 months after the date of the enactment of this Act, revise its standards for the performance of real estate appraisals in connection with federally related transactions under the jurisdiction of the agency to comply with the requirement under the amendments made by paragraph (1) of this subsection.CommentsClose CommentsPermalink
(b) Appraiser Certification and Licensing Requirements- Section 1116 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (
(1) in subsection (a), by inserting before the period at the end the following: `, and meets the requirements established pursuant to subsection (f) for qualifications regarding consideration of any renewable energy sources for, or energy-efficiency or energy-conserving improvements or features of, the property';CommentsClose CommentsPermalink
(2) in subsection (c), by inserting before the period at the end the following, `, which shall include compliance with the requirements established pursuant to subsection (f) regarding consideration of any renewable energy sources for, or energy-efficiency or energy-conserving improvements or features of, the property';CommentsClose CommentsPermalink
(3) in subsection (e), by striking `The' and inserting `Except as provided in subsection (f), the'; andCommentsClose CommentsPermalink
(4) by adding at the end the following new subsection:CommentsClose CommentsPermalink
`(f) Requirements for Appraisers Regarding Energy-Efficiency Features- The Appraisal Subcommittee shall establish requirements for State certification of State certified real estate appraisers and for State licensing of State licensed appraisers, to ensure that appraisers consider and are qualified to consider, in determining the value of a property, any renewable energy sources for, or energy-efficiency or energy-conserving improvements or features of, the property.'.CommentsClose CommentsPermalink
(c) Guidelines for Appraising Photovoltaic Measures and Training of Appraisers- Section 1122 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (
`(g) Guidelines for Appraising Photovoltaic Measures and Training of Appraisers- The Appraisal Subcommittee shall, in consultation with the Secretary of Housing and Urban Development, the Federal National Mortgage Association, and the Federal Home Loan Mortgage Corporation, establish specific guidelines for--CommentsClose CommentsPermalink
`(1) appraising off- and on-grid photovoltaic measures for compliance with the appraisal standards prescribed pursuant to section 1110(2);CommentsClose CommentsPermalink
`(2) requirements under section 1116(f) for certification of State certified real estate appraisers and for State licensing of State licensed appraisers, to ensure that appraisers consider, and are qualified to consider, such photovoltaic measures in determining the value of a property; andCommentsClose CommentsPermalink
`(3) training of appraisers to meet the requirements established pursuant to paragraph (2) of this subsection.'.CommentsClose CommentsPermalink
SEC. 22. ASSISTANCE FOR HOUSING ASSISTANCE COUNCIL.
The Secretary of Housing and Urban Development shall require the Housing Assistance Council--CommentsClose CommentsPermalink
(1) to encourage each organization that receives assistance from the Council with any amounts made available from the Secretary of Housing and Urban Development to provide that any structures and buildings developed or assisted under projects, programs, and activities funded with such amounts complies with the energy efficiency requirements under section 2(a) of the Green Resources for Energy Efficient Neighborhoods Act of 2008; andCommentsClose CommentsPermalink
(2) to establish incentives to encourage each such organization to provide that any such structures and buildings comply with the energy efficiency and conservation standards, and the green building standards, under section 2(b) of such Act.CommentsClose CommentsPermalink
SEC. 23. RURAL HOUSING AND ECONOMIC DEVELOPMENT ASSISTANCE.
The Secretary of Housing and Urban Development shall--CommentsClose CommentsPermalink
(1) encourage each tribe, agency, organization, corporation, and other entity that receives any assistance from the Office of Rural Housing and Economic Development of the Department of Housing and Urban Development to provide that any structures and buildings developed or assisted under activities funded with such amounts complies with the energy efficiency requirements under section 2(a) of the Green Resources for Energy Efficient Neighborhoods Act of 2008; andCommentsClose CommentsPermalink
(2) establish incentives to encourage each such tribe, agency, organization, corporation, and other entity to provide that any such structures and buildings comply with the energy efficiency and conservation standards, and the green building standards, under section 2(b) of such Act.CommentsClose CommentsPermalink
SEC. 24. REVOLVING FUND FOR LOANS TO STATES AND INDIAN TRIBES TO CARRY OUT RENEWABLE ENERGY SOURCES ACTIVITIES.
(a) Establishment of Fund- There is established in the Treasury of the United States a revolving fund, to be known as the `Alternative Energy Sources State Revolving Fund'.CommentsClose CommentsPermalink
(b) Credits- The Fund shall be credited with--CommentsClose CommentsPermalink
(1) any amounts appropriated to the Fund pursuant to subsection (g);CommentsClose CommentsPermalink
(2) any amounts of principal and interest from loan repayments received by the Secretary pursuant to subsection (d)(7); andCommentsClose CommentsPermalink
(3) any interest earned on investments of amounts in the Fund pursuant to subsection (e).CommentsClose CommentsPermalink
(c) Expenditures-CommentsClose CommentsPermalink
(1) IN GENERAL- Subject to paragraph (2), on request by the Secretary of Housing and Urban Development, the Secretary of the Treasury shall transfer from the Fund to the Secretary such amounts as the Secretary determines are necessary to provide loans under subsection (d)(1).CommentsClose CommentsPermalink
(2) ADMINISTRATIVE EXPENSES- Of the amounts in the Fund, not more than 5 percent shall be available for each fiscal year to pay the administrative expenses of the Department of Housing and Urban Development to carry out this section.CommentsClose CommentsPermalink
(d) Loans to States and Indian Tribes-CommentsClose CommentsPermalink
(1) IN GENERAL- The Secretary shall use amounts in the Fund to provide loans to States and Indian tribes to provide incentives to owners of single-family and multifamily housing, commercial properties, and public buildings to provide--CommentsClose CommentsPermalink
(A) renewable energy sources for such structures, such as wind, wave, solar, biomass, or geothermal energy sources, including incentives to companies and business to change their source of energy to such renewable energy sources and for changing the sources of energy for public buildings to such renewable energy sources;CommentsClose CommentsPermalink
(B) energy efficiency and energy conserving improvements and features for such structures; orCommentsClose CommentsPermalink
(C) infrastructure related to the delivery of electricity and hot water for structures lacking such amenities.CommentsClose CommentsPermalink
(2) ELIGIBILITY- To be eligible to receive a loan under this subsection, a State or Indian tribe, through an appropriate State or tribal agency, shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require.CommentsClose CommentsPermalink
(3) CRITERIA FOR APPROVAL- The Secretary may approve an application of a State or Indian tribe under paragraph (2) only if the Secretary determines that the State or tribe will use the funds from the loan under this subsection to carry out a program to provide incentives described in paragraph (1) that--CommentsClose CommentsPermalink
(A) requires that any such renewable energy sources, and energy efficiency and energy conserving improvements and features, developed pursuant to assistance under the program result in compliance of the structure so improved with the energy efficiency requirements under section 2(a) of the Green Resources for Energy Efficient Neighborhoods Act of 2008; andCommentsClose CommentsPermalink
(B) includes such compliance and audit requirements as the Secretary determines are necessary to ensure that the program is operated in a sound and effective manner.CommentsClose CommentsPermalink
(4) PREFERENCE- In making loans during each fiscal year, the Secretary shall give preference to States and Indian tribes that have not previously received a loan under this subsection.CommentsClose CommentsPermalink
(5) MAXIMUM AMOUNT- The aggregate outstanding principal amount from loans under this subsection to any single State or Indian tribe may not exceed $500,000,000.CommentsClose CommentsPermalink
(6) LOAN TERMS- Each loan under this subsection shall have a term to maturity of not more than 10 years and shall bear interest at annual rate, determined by the Secretary, that shall not exceed interest rate charged by the Federal Reserve Bank of New York to commercial banks and other depository institutions for very short-term loans under the primary credit program, as most recently published in the Federal Reserve Statistical Release on selected interest rates (daily or weekly), and commonly referred to as the H.15 release, preceding the date of a determination for purposes of applying this paragraph.CommentsClose CommentsPermalink
(7) LOAN REPAYMENT- The Secretary shall require full repayment of each loan made under this section.CommentsClose CommentsPermalink
(e) Investment of Amounts-CommentsClose CommentsPermalink
(1) IN GENERAL- The Secretary of the Treasury shall invest such amounts in the Fund that are not, in the judgment of the Secretary of the Treasury, required to meet needs for current withdrawals.CommentsClose CommentsPermalink
(2) OBLIGATIONS OF UNITED STATES- Investments may be made only in interest-bearing obligations of the United States.CommentsClose CommentsPermalink
(f) Reports-CommentsClose CommentsPermalink
(1) REPORTS TO SECRETARY- For each year during the term of a loan made under subsection (d), the State or Indian tribe that received the loan shall submit to the Secretary a report describing the State or tribal alternative energy sources program for which the loan was made and the activities conducted under the program using the loan funds during that year.CommentsClose CommentsPermalink
(2) REPORT TO CONGRESS- Not later than September 30 of each year that loans made under subsection (d) are outstanding, the Secretary shall submit a report to the Congress describing the total amount of such loans provided under subsection (d) to each eligible State and Indian tribe during the fiscal year ending on such date, and an evaluation on effectiveness of the Fund.CommentsClose CommentsPermalink
(g) Authorization of Appropriations- There is authorized to be appropriated to the Fund $5,000,000,000.CommentsClose CommentsPermalink
(h) Definitions- For purposes of this section, the following definitions shall apply:CommentsClose CommentsPermalink
(1) INDIAN TRIBE- The term `Indian tribe' has the meaning given such term in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 (
(2) SECRETARY- The term `Secretary' means the Secretary of Housing and Urban Development.CommentsClose CommentsPermalink
(3) STATE- The term `State' means each of the several States, the Commonwealth of Puerto Rico, the District of Columbia, the Commonwealth of the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, the Trust Territories of the Pacific, or any other possession of the United States.CommentsClose CommentsPermalink
SEC. 25. GREEN BANKING CENTERS.
(a) Insured Depository Institutions- Section 8 of the Federal Deposit Insurance Act (
`(x) `Green Banking' Centers-CommentsClose CommentsPermalink
`(1) IN GENERAL- The Federal banking agencies shall prescribe guidelines encouraging the establishment and maintenance of `green banking' centers by insured depository institutions to provide any consumer who seeks information on obtaining a mortgage, home improvement loan, or home equity loan with additional information on--CommentsClose CommentsPermalink
`(A) obtaining an home energy rating or audit for the residence for which such mortgage or loan is sought;CommentsClose CommentsPermalink
`(B) obtaining financing for cost-effective energy-saving improvements to such property; andCommentsClose CommentsPermalink
`(C) obtaining beneficial terms for any mortgage or loan, or qualifying for a larger mortgage or loan, secured by a residence which meets or will meet energy-efficiency standards.CommentsClose CommentsPermalink
`(2) INFORMATION AND REFERRALS- The information made available to consumers under paragraph (1) may include--CommentsClose CommentsPermalink
`(A) information on obtaining a home energy rating and contact information on qualified energy raters in the area of the residence;CommentsClose CommentsPermalink
`(B) information on the secondary market guidelines that permit lenders to provide more favorable terms by allowing lenders to increase the ratio on debt-to-income requirements or to use the projected utility savings as a compensating factor;CommentsClose CommentsPermalink
`(C) information including eligibility information about, and contact information for, any conservation or renewable energy programs, grants, or loans offered by the Secretary of Housing and Urban Development, including the Energy Efficient Mortgage Program;CommentsClose CommentsPermalink
`(D) information including eligibility information about, and contact information for, any conservation or renewable energy programs, grants, or loans offered for qualified military personal, reservists, and veterans by the Secretary of Veterans Affairs;CommentsClose CommentsPermalink
`(E) information about, and contact information for, the Office of Efficiency and Renewable Energy at the Department of Energy, including the weatherization assistance program;CommentsClose CommentsPermalink
`(F) information about, and contact information for, the Energy Star Program of the Environmental Protection Agency;CommentsClose CommentsPermalink
`(G) information from, and contact information for, the Federal Citizen Information Center of the General Services Administration on energy efficient mortgages and loans, home energy rating systems, and the availability of energy efficient mortgage information from a variety of Federal agencies; andCommentsClose CommentsPermalink
`(H) such other information as the agencies or the insured depository institution may determine to be appropriate or useful.'.CommentsClose CommentsPermalink
(b) Insured Credit Unions- Section 206 of the Federal Credit Union Act (
`(x) `Green Banking' Centers-CommentsClose CommentsPermalink
`(1) IN GENERAL- The Board shall prescribe guidelines encouraging the establishment and maintenance of `green banking' centers by insured credit unions to provide any member who seeks information on obtaining a mortgage, home improvement loan, or home equity loan with additional information on--CommentsClose CommentsPermalink
`(A) obtaining an home energy rating or audit for the residence for which such mortgage or loan is sought;CommentsClose CommentsPermalink
`(B) obtaining financing for cost-effective energy-saving improvements to such property; andCommentsClose CommentsPermalink
`(C) obtaining beneficial terms for any mortgage or loan, or qualifying for a larger mortgage or loan, secured by a residence which meets or will meet energy-efficiency standards.CommentsClose CommentsPermalink
`(2) INFORMATION AND REFERRALS- The information made available to members under paragraph (1) may include--CommentsClose CommentsPermalink
`(A) information on obtaining a home energy rating and contact information on qualified energy raters in the area of the residence;CommentsClose CommentsPermalink
`(B) information on the secondary market guidelines that permit lenders to provide more favorable terms by allowing lenders to increase the ratio on debt-to-income requirements or to use the projected utility savings as a compensating factor;CommentsClose CommentsPermalink
`(C) information including eligibility information about, and contact information for, any conservation or renewable energy programs, grants, or loans offered by the Secretary of Housing and Urban Development, including the Energy Efficient Mortgage Program;CommentsClose CommentsPermalink
`(D) information including eligibility information about, and contact information for, any conservation or renewable energy programs, grants, or loans offered for qualified military personal, reservists, and veterans by the Secretary of Veterans Affairs;CommentsClose CommentsPermalink
`(E) information about, and contact information for, the Office of Efficiency and Renewable Energy at the Department of Energy, including the weatherization assistance program;CommentsClose CommentsPermalink
`(F) information from, and contact information for, the Federal Citizen Information Center of the General Services Administration on energy efficient mortgages and loans, home energy rating systems, and the availability of energy efficient mortgage information from a variety of Federal agencies; andCommentsClose CommentsPermalink
`(G) such other information as the Board or the insured credit union may determine to be appropriate or useful.'.CommentsClose CommentsPermalink
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