H.R.3221 - Job Creation and Energy Efficiency Act
To authorize the Secretary of Energy to provide loan guarantees for energy efficiency upgrades to existing buildings.
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Ms. DELAURO (for herself, Mr. CARNAHAN, Ms. WOOLSEY, Mr. COURTNEY, Ms. SCHAKOWSKY, Mr. OLVER, Mr. GRIJALVA, Mr. CONYERS, and Mr. WELCH) introduced the following bill; which was referred to the Committee on Energy and CommerceCommentsClose CommentsPermalink
SECTION 1. SHORT TITLE.
SEC. 2. LOAN PROGRAM FOR ENERGY EFFICIENCY UPGRADES TO EXISTING BUILDINGS.
‘SEC. 1706. BUILDING RETROFIT FINANCING PROGRAM.
‘(1) CREDIT SUPPORT- The term ‘credit support’ means a guarantee or commitment to issue a guarantee or other forms of credit enhancement to ameliorate risks for efficiency obligations.CommentsClose CommentsPermalink
‘(2) EFFICIENCY OBLIGATION- The term ‘efficiency obligation’ means a debt or repayment obligation incurred in connection with financing a project, or a portfolio of such debt or repayment obligations.CommentsClose CommentsPermalink
‘(3) PROJECT- The term ‘project’ means the installation and implementation of efficiency, advanced metering, distributed generation, or renewable energy technologies and measures for a building (or for multiple buildings on a given property) that are expected to increase the energy efficiency of the building (including fixtures) in accordance with criteria established by the Secretary.CommentsClose CommentsPermalink
‘(2) INCLUSIONS- Buildings eligible for credit support under this section include commercial, multifamily residential, industrial, municipal, government, institution of higher education, school, and hospital facilities that satisfy criteria established by the Secretary.CommentsClose CommentsPermalink
‘(C) the threshold levels of energy savings that a project, at the time of issuance of credit support, shall be reasonably expected to achieve to be eligible for credit support;CommentsClose CommentsPermalink
‘(E) notwithstanding subsections (d)(3) and (g)(2)(B) of section 1702, any lien priority requirements that the Secretary determines to be necessary, in consultation with the Director of the Office of Management and Budget, which may include--CommentsClose CommentsPermalink
‘(VI) requirements of third-party contractors to guarantee energy savings that will result from a retrofit project, and whether financing on the efficiency obligation will amortize from the energy savings;CommentsClose CommentsPermalink
‘(B) the establishment of a clear application and approval process that allows private building owners, lenders, and investors to reasonably expect to receive credit support for projects that conform to guidelines;CommentsClose CommentsPermalink
‘(e) Aggregation of Projects- To the extent provided in the guidelines developed in accordance with subsection (c), the Secretary may issue credit support on a portfolio, or pool of projects, that are not required to be geographically contiguous, if each efficiency obligation in the pool fulfills the requirements described in this section.CommentsClose CommentsPermalink
‘(1) IN GENERAL- To be eligible to receive credit support under this section, the applicant shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary determines to be necessary.CommentsClose CommentsPermalink
‘(B) the project is reasonably expected to achieve energy savings, as set forth in the application using any methodology that meets the standards described in the program guidelines;CommentsClose CommentsPermalink
‘(i) any information the Secretary requests to assess the energy savings that result from the project, including historical energy usage data, a simulation-based benchmark, and detailed descriptions of the building work, as described in the program guidelines; andCommentsClose CommentsPermalink
‘(3) DETERMINATION- Not later than 90 days after receiving an application, the Secretary shall make a final determination on the application, which may include requests for additional information.CommentsClose CommentsPermalink
‘(j) Buy American Report- The Secretary shall submit to the Congress an annual report that estimates the percentage of American-made materials used in conducting retrofit activities funded pursuant to this section.CommentsClose CommentsPermalink
‘(1) AUTHORIZATION OF APPROPRIATIONS- There are authorized to be appropriated to carry out this section $15,000,000,000 for the period encompassing fiscal years 2012 through 2021.CommentsClose CommentsPermalink
‘(2) ADMINISTRATIVE COSTS- Not more than 1 percent of any amounts made available to the Secretary for carrying out this section may be used by the Secretary for administrative costs incurred in carrying out this section.’.CommentsClose CommentsPermalink