110 HR 6078 IH: Green Resources for Energy
U.S. House of Representatives
2008-05-15
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.Short title and table of
contents
(a)This Act may be cited
as the Green Resources for Energy
Efficient Neighborhoods Act of 2008
or the
GREEN Act of
2008
.
(b)The table of contents for this Act is as follows:
Sec. 1. Short title and table of contents.
Sec. 2. Minimum HUD energy efficiency standards and standards
for additional credit.
Sec. 3. Energy efficiency and conservation demonstration
program for multifamily housing projects assisted with project-based rental
assistance.
Sec. 4. Additional credit for Fannie Mae and Freddie Mac
housing goals for energy efficient mortgages.
Sec. 5. Authority of housing-related government-sponsored
enterprises with respect to energy-efficient and location-efficient mortgages
and reporting.
Sec. 6. Energy-efficient mortgage and location-efficient
mortgage goals for Fannie Mae and Freddie Mac.
Sec. 7. FHA energy-efficient housing requirement.
Sec. 8. Energy efficient mortgages education and outreach
campaign.
Sec. 9. Collection of information on energy-efficient and
location efficient mortgages through Home Mortgage Disclosure Act.
Sec. 10. Ensuring availability of homeowners insurance for
homes not connected to electricity grid.
Sec. 11. Mortgage incentives for energy-efficient multifamily
housing.
Sec. 12. Energy efficiency certifications for housing with
mortgages insured by FHA.
Sec. 13. Assisted housing energy loan program.
Sec. 14. Making it green.
Sec. 15. Residential energy efficiency block grant
program.
Sec. 16. Including sustainable development in comprehensive
housing affordability strategies.
Sec. 17. Grant program to increase sustainable low-income
community development capacity.
Sec. 18. Utilization of energy performance contracts in HOPE
VI.
Sec. 19. HOPE VI green developments requirement.
Sec. 20. Community Reinvestment Act credits for energy
efficient mortgages and green building efforts.
Sec. 21. Consideration of energy-efficiency improvements in
appraisals.
Sec. 22. Assistance for Housing Assistance Council.
Sec. 23. Rural housing and economic development
assistance.
Sec. 24. Revolving fund for loans to States and Indian tribes
to carry out renewable energy sources activities.
Sec. 25. Green banking centers.
2.Minimum HUD
energy efficiency standards and standards for additional credit
(a)
(1)A residential
single family or multifamily structure shall be considered to comply with the
energy efficiency requirements under this subsection if—
(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);
(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);
(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; or
(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.
(2)Nonresidential
structuresThe 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).
(b)Additional credit
for further compliance with energy efficiency and conservation or green
building standards
(1)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).
(2)Energy
efficiency and conservation standardsThe energy efficiency and
conservation standards under this paragraph are as follows:
(A)With respect to residential structures:
(i)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);
(ii)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).
(B)Nonresidential
structuresWith 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.
(3)The green building standards under this paragraph are
as follows:
(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).
(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).
(C)The Green Globes
assessment and rating system of the Green Buildings Initiative.
(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).
(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.
(4)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.
(5)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).
(c)Applicability
and updating of standards
(1)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.
(2)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).
3.Energy efficiency and
conservation demonstration program for multifamily housing projects assisted
with project-based rental assistance
(a)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.
(b)The demonstration program under this
section shall be carried out in a manner that—
(1)protects the
financial interests of the Federal Government;
(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;
(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;
(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;
(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;
(6)tests the efficacy
of a variety of energy efficiency measures for multifamily housing projects of
various sizes and in various geographic locations;
(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; and
(8)creates a database
of energy efficiency and conservation, and renewable energy, techniques, energy
savings management practices, and energy efficiency and conservation financing
vehicles.
(c)In carrying out the demonstration program
under this section, the Secretary may—
(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;
(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;
(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;
(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; and
(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.
(d)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.
(e)
(1)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 (25
U.S.C. 3501).
(2)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—
(A)the energy
efficiency standard under section 2(a); and
(B)the energy
efficiency and conservation standards, and the green building standards, under
section 2(b) of such Act.
(f)Use of existing
partnershipsThe Secretary
shall—
(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;
and
(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.
(g)
(1)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.
(2)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—
(A)shall assess the
potential for expanding the demonstration program on a nationwide basis;
and
(B)shall include
descriptions of—
(i)the
size of each multifamily housing project for which assistance was provided
under the program;
(ii)the
geographic location of each project assisted, by State and region;
(iii)the criteria
used to select the projects for which assistance is provided under the
program;
(iv)the
energy efficiency and conservation measures and financing sources used for each
project that is assisted under the program;
(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;
(vi)the
average length of the term of the such assistance provided under the program
for a project;
(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;
(viii)the functions
performed in connection with the implementation of the demonstration program
that were transferred or contracted out to any third parties;
(ix)an
evaluation of the overall successes and failures of the demonstration program;
and
(x)recommendations for any actions to be taken as a result of the such successes
and failures.
(3)Each
annual report pursuant to paragraph (1) and the final report pursuant to
paragraph (2) shall include—
(A)a description of
the status of each multifamily housing project selected for participation in
the demonstration program under this section; and
(B)findings from the
program and recommendations for any legislative actions.
(h)For
purposes of this section, the following definitions shall apply:
(1)Covered
multifamily assistance programThe term covered
multifamily assistance program
means—
(A)the program under section 8 of the United
States Housing Act of 1937 (42 U.S.C. 1437f) for project-based rental
assistance;
(B)the program under
section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) for assistance for
supportive housing for the elderly;
(C)the program under
section 811 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C.
8013) for supportive housing for persons with disabilities; and
(D)the program for
assistance under the Native American Housing Assistance and Self-Determination
Act of 1996 (25 U.S.C. 4111).
(2)The
term Secretary
means the Secretary of Housing and Urban
Development.
(i)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.
4.Additional credit
for Fannie Mae and Freddie Mac housing goals for energy efficient
mortgagesSection 1336(a) of
the Housing and Community Development Act of 1992 (12 U.S.C. 4566(a)) is
amended—
(1)in paragraph (2),
by inserting , except as provided in paragraph (4),
after
which
; and
(2)by adding at the
end the following new paragraph:
(5)
(A)In assigning credit
toward achievement under this section of the housing goals for mortgage
purchase activities of the enterprises, the Director shall assign—
(i)more than 125 percent credit, for such
purchases that both—
(I)comply with the
requirements of such goals; and
(II)support housing
that meets the energy efficiency standards under section 2(a) of the
Green Resources for Energy Efficient
Neighborhoods Act of 2008; and
(ii)credit in addition to credit under clause
(i), for purchases that both—
(I)comply with the
requirements of such goals, and
(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,
and such
additional credit shall be given based on the extent to which the housing
supported with such purchases complies with such standards.(B)Treatment of
additional creditThe availability of additional credit under
this paragraph shall not be used to increase any housing goal, subgoal, or
target established under this
subpart.
.
5.Authority of
housing-related government-sponsored enterprises with respect to
energy-efficient and location-efficient mortgages and reporting
(a)Fannie Mae
purchase authorityThe
Federal National Mortgage Association Charter Act is amended—
(1)in section 302(b)
(12 U.S.C. 1717(b)), by adding at the end the following new paragraph:
(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).
;
and
(2)in section 309 (12 U.S.C. 1723a)—
(A)in subsection
(m)—
(i)in paragraph
(1)—
(I)by redesignating
subparagraphs (D) and (E) as subparagraphs (E) and (F), respectively;
and
(II)by inserting
after subparagraph (C) the following new subparagraph:
(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);
;
and
(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)
; and
(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)
.
(b)Freddie Mac
purchase authorityThe
Federal Home Loan Mortgage Corporation Act is amended—
(1)in section 305(a)
(12 U.S.C. 1454), by adding at the end the following new paragraph:
(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).
;
and
(2)in section 307 (12
U.S.C. 1456)—
(A)in subsection
(e)—
(i)in paragraph
(1)—
(I)by redesignating
subparagraphs (D) and (E) as subparagraphs (E) and (F), respectively;
and
(II)by inserting
after subparagraph (C) the following new subparagraph:
(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);
;
and
(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)
; and
(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)
.
(c)Federal home
loan bank advance authoritySection 10 of the Federal Home Loan
Bank Act (12 U.S.C. 143) is amended—
(1)in subsection (a),
by adding at the end the following new paragraph:
(7)Energy-efficient
and location-efficient residential mortgagesFunds 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.
.
6.Energy-efficient
mortgage and location-efficient mortgage goals for Fannie Mae and Freddie
Mac
(a)
(1)Section 301 of the Federal National Mortgage Association
Charter Act (12 U.S.C. 1716) is amended—
(A)in paragraph (4),
by striking and
at the end;
(B)in paragraph (5),
by striking the period at the end and inserting ; and
;
and
(C)by adding at the
end the following new paragraph:
(6)promote and facilitate the use of
energy-efficient mortgages and location-efficient
mortgages.
.
(2)Subsection (b) of section 301 of the Federal Home Loan
Mortgage Corporation Act (12 U.S.C. 1451 note) is amended—
(A)in paragraph (3),
by striking and
at the end;
(B)in paragraph (5),
by striking the period at the end and inserting ; and
;
and
(C)by adding at the
end the following new paragraph:
(5)to promote and facilitate the use of
energy-efficient mortgages and location-efficient
mortgages.
.
(b)Goals for
mortgage purchases
(1)The Housing and
Community Development Act of 1992 is amended by inserting after section 1334
(12 U.S.C. 4564) the following new section:
1334A.Energy-efficient
and location-efficient mortgages goals
(a)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:
(1)Energy-efficient
mortgages.
(2)Location-efficient
mortgages.
(b)The annual goals under this section for
each enterprise shall be as follows:
(1)Energy-efficient
mortgagesFor energy efficient mortgages—
(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;
(B)during the years
2017 through 2021, 10 percent of such mortgages that are purchased during each
such year by the enterprise; and
(C)during 2022 and each year thereafter, 25
percent of such mortgages that are purchased during each such year by the
enterprise.
(2)Location-efficient
mortgagesFor
location-efficient mortgages—
(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;
(B)during the years
2017 through 2021, 6 percent of such mortgages that are purchased during each
such year by the enterprise; and
(C)during 2022 and each year thereafter, 10
percent such mortgages that are purchased during each such year by the
enterprise.
(c)The Director shall require each enterprise—
(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; and
(2)submit a report to
the Congress annually that—
(A)describes the
extent of mortgage purchases described in subsection (b)(1) and of compliance
with the goal established pursuant to such subsection;
(B)describes the extent of mortgage purchases
described in subsection (b)(2) and of compliance with the goal established
pursuant to such subsection; and
(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.
(d)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—
(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; and
(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.
(e)For
purposes of this section, the following definitions shall apply:
(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.
(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.
.
(2)Reports,
enforcement, and conforming amendmentsTitle XIII of the Housing
and Community Development Act of 1992 is amended—
(A)in subsection (b)
of section 1324 (12 U.S.C. 4542(b))—
(i)in paragraph (4),
by striking and 1334
and inserting 1334, and
1334A
;
(ii)by redesignating
paragraphs (4) through (7) as paragraphs (5) through (8), respectively;
and
(iii)by inserting
after paragraph (3) the following new paragraph:
(4)aggregate and analyze appropriate data to
assess the compliance of each enterprise with the energy-efficient and
location-efficient mortgages
goals;
;
(B)in subsection (a)
of section 1331 (12 U.S.C. 4561(a))—
(i)by striking
and
before a central cities
; and
(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
;
(C)in section 1335
(12 U.S.C. 4565)—
(i)in the matter in
subsection (a) that precedes paragraph (1)—
(I)by striking
and
before the central cities
; and
(II)by inserting
after section 1334,
the following: , and the
energy-efficient and location-efficient mortgages goals pursuant to section
1334A
;
(ii)in subsection
(b), by striking and 1334
and inserting , 1334, and
1334A
; and
(D)in section 1336 (12 U.S.C. 4566)—
(i)in paragraph (1) of subsection (a), by
striking and 1334
and inserting , 1334, and
1334A
; and
(ii)by striking
or 1334
each place such term appears and inserting ,
1334, or 1334A
.
7.FHA
energy-efficient housing requirement
(a)Title V of the National Housing Act is
amended by adding after section 542 (12 U.S.C. 1735f–20) the following new
section:
543.Energy-efficient
housing requirement
(a)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.
(b)Authorization of
appropriationsThere 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).
.
(b)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:
(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.
.
8.Energy efficient
mortgages education and outreach campaignSection 513 of the Housing and Community
Development Act of 1992 (42 U.S.C. 12712 note) is amended by adding at the end
the following new subsection:
(g)Education and
outreach campaignThe
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.
.
9.Collection of
information on energy-efficient and location efficient mortgages through Home
Mortgage Disclosure Act
(a)Section 304(b)(1) of
the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2803(b)(1)) is
amended—
(1)in paragraph (3),
by striking and
at the end;
(2)in paragraph (4),
by striking the period at the end and inserting a semicolon; and
(3)by adding at the
end the following new paragraphs:
(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); and
(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).
.
(b)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.
10.Ensuring
availability of homeowners insurance for homes not connected to electricity
grid
(a)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.
(b)Consideration of
actuarial riskSubsection (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.
(c)Insuring homes
and related property in Indian areasNotwithstanding 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 (25 U.S.C. 4103)) and constructed or maintained
using assistance, loan guarantees, or other authority under the Native American
Housing Assistance and Self-Determination Act of 1996 may be insured by any
tribally owned self-insurance risk pool approved by the Secretary of Housing
and Urban Development.
(d)For purposes of
this section, the term covered structure
means a residential
structure that—
(1)consists of one to
four dwelling units;
(2)is
provided power, heat, or electricity from renewable energy sources (such as
solar, wind, geothermal, or biomass) or a fuel cell; and
(3)is not connected
to any wholesale or retail electrical power grid.
11.Mortgage
incentives for energy-efficient multifamily housing
(a)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 (12 U.S.C. 1709 et seq.) so
that the housing meets the energy efficiency standards under section 2(a) of
this Act and incentives to encourage compliance of such housing with the energy
efficiency and conservation standards, and the green building standards, under
section 2(b) of this Act.
(b)Such incentives—
(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; and
(2)may
include—
(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); and
(B)reducing the
amount that the owner of such multifamily housing meeting the standards
referred to in subsection (a) is required to contribute.
12.Energy
efficiency certifications for housing with mortgages insured by
FHASection 526(a) of the
National Housing Act (12 U.S.C. 1735f–4(a)) is amended—
(1)in subsection
(a)—
(A)by striking
, other than manufactured homes,
each place such term appears;
and
(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
(2)by
inserting (1)
after (a)
;
(3)by adding at the
end the following new paragraphs:
(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.
(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.
;
and
(4)in subsection (b),
by striking , other than a manufactured home,
.
13.Assisted housing
energy loan program
(a)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.
(b)The
program under this section shall provide for a privately financed loan to be
made for a covered assisted housing project, which shall—
(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;
(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;
(3)be secured by a
mortgage subordinate to the mortgage for the project that is insured under the
National Housing Act; and
(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.
(c)The Secretary shall establish underwriting requirements
for loans made under the program under this section, which shall—
(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;
(2)allow the
contractor involved in designing capital improvements to be financed with a
loan under the program to carry out such capital improvements; and
(3)include such
energy, audit, property, financial, ownership, and approval requirements as the
Secretary considers appropriate.
(d)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.
(e)Covered assisted
housing projectsFor purposes of this section, the term
covered assisted housing project
means a housing project
that—
(1)is financed by a
loan or mortgage that is—
(A)insured by the
Secretary under subsection (d)(3) or (d)(4) of section 221 of the National
Housing Act (12 U.S.C. 1715l), and bears interest at a rate determined under
the proviso of section 221(d)(5) of such Act; or
(B)insured or
assisted under section 236 of the National Housing Act (12 U.S.C. 1715z–1);
and
(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 (42 U.S.C.
1437f) for 50 percent or more of the dwelling units in the project.
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.(f)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.
14.
(a)Partnerships with
tree-planting organizationsThe 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.
(b)Plan for
assisted housingIn 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—
(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;
(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;
(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;
(4)selection and
installation of trees, shrubs, grasses, and other plants based upon applicable
design guidelines and standards of the International Society for
Arboriculture;
(5)post-planting care and maintenance of the
landscaping relating to or affected by the housing in accordance with best
management practices; and
(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.
(c)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.
15.Residential
energy efficiency block grant programTitle I of the Housing and Community
Development Act of 1974 (42 U.S.C. 5301 et seq.) is amended by adding at the
end the following new section:
123.Residential
energy efficiency block grant program
(a)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.
(b)
(1)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.
(2)Set aside for
Indian tribesOf 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.
(c)
(1)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.
(2)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.
(3)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.
(4)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.
(d)
(1)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.
(2)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.
(e)
(1)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.
(2)Preference for
compliance beyond minimum requirementsIn 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.
(f)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).
(g)Applicability of
CDBG provisionsSections 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.
.
16.Including
sustainable development in comprehensive housing affordability
strategiesSection 105(b) of
the Cranston-Gonzalez National Affordable Housing Act of 1990 (42 U.S.C.
12705(b)) is amended—
(1)by
striking and
at the end of paragraph (19);
(2)by striking the
period at the end of paragraph (20) and inserting ; and
;
(3)and by inserting
after paragraph (20) the following:
(21)describe the
jurisdiction’s strategies to encourage sustainable development for affordable
housing, including single-family and multifamily housing, as measured
by—
(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;
(B)increased
conservation, recycling, and reuse of resources;
(C)more effective use
of existing infrastructure;
(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; and
(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.
.
17.Grant program to
increase sustainable low-income community development capacity
(a)The Secretary of
Housing and Urban Development may make grants to nonprofit organizations to use
for any of the following purposes:
(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.
(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.
(3)Such other
purposes as the Secretary determines are in accordance with the purposes of
this subsection.
(b)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.
(c)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.
(d)For
purposes of this section, the following definitions shall apply:
(1)The term nonprofit
organization has the meaning given such term in section 104 of the
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12704).
(2)The term
eligible community development organization means—
(A)a unit of general local government (as
defined in section 104 of the Cranston-Gonzalez National Affordable Housing Act
(42 U.S.C. 12704));
(B)a community housing development
organization (as defined in section 104 of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 12704)); or
(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 (25 U.S.C. 4103)).
(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—
(A)the median gross
income for such year for the area in which such census tract is located;
or
(B)the median gross
income for such year for the State in which such census tract is
located.
(e)Authorization of
appropriationsThere are
authorized to be appropriated to the Secretary to carry out this section
$10,000,000 for each of fiscal years 2008 through 2012.
18.Utilization of
energy performance contracts in HOPE VISection 24(d) of the United States Housing
Act of 1937 (42 U.S.C. 1437v(d)) is amended by adding at the end the following
new paragraph:
(3)Energy
performance contracts
(A)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.
(B)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.
(C)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.
(D)Extension of
existing contractsThe 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.
.
19.HOPE VI green
developments requirement
(a)Section 24(e) of
the United States Housing Act of 1937 (42 U.S.C. 1437v(e)) is amended by adding
at the end the following new paragraph:
(4)Green
developments requirement
(A)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:
(i)Green
communities criteria checklistAll 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:
(I)The proposed plan
shall comply with all items of the national Green Communities criteria
checklist for residential construction that are identified as mandatory.
(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—
- (aa)25
points, in the case of any proposed plan (or portion thereof) consisting of new
construction; and
- (bb)20
points, in the case of any proposed plan (or portion thereof) consisting of
rehabilitation.
(ii)Green buildings
certification systemAll 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.
(B)
(i)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.
(ii)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:
(I)Not later than 60
days after execution of the grant agreement under this section for the
grantee.
(II)Upon completion of
the revitalization plan of the grantee.
(C)Identification
of green buildings rating systems and levels
(i)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.
(ii)In
identifying the green rating systems and levels, the Secretary shall take into
consideration—
(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;
(II)the ability of
the applicable ratings system organizations to collect and reflect public
comment;
(III)the ability of
the standards to be developed and revised through a consensus-based
process;
(IV)An evaluation of the robustness of the
criteria for a high-performance green building, which shall give credit for
promoting—
- (aa)efficient and
sustainable use of water, energy, and other natural resources;
- (bb)use
of renewable energy sources;
- (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; and
- (dd)such other
criteria as the Secretary determines to be appropriate; and
(V)national
recognition within the building industry.
(iii)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).
(D)Applicability
and updating of standards
(i)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.
(ii)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).
.
(b)Selection
criteria; graded componentSection 24(e)(2) of the United States
Housing Act of 1937 (42 U.S.C. 1437v(e)(2)) is amended—
(1)in subparagraph
(K), by striking and
at the end;
(2)by redesignating
subparagraph (L) as subparagraph (M); and
(3)by inserting after
subparagraph (K) the following new subparagraph:
(L)the extent to which the proposed
revitalization plan—
(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;
and
(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
.
20.Community
Reinvestment Act credits for energy efficient mortgages and green building
effortsSection 804 of the
Community Reinvestment Act of 1977 (12 U.S.C. 2903) is amended by adding at the
end the following new subsection:
(d)Energy efficient
mortgages and green building efforts
(1)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—
(A)the use of energy
efficient and energy improvement mortgages by low-income, first-time, and other
homebuyers;
(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;
(C)neighborhood
planning in a manner that is consistent with environmental regulations, plans,
and tree ordinances;
(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;
(E)generation and
distribution of renewable energy;
(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; or
(G)funding for
energy-conserving and clean energy technologies.
(2)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.
.
21.Consideration of
energy-efficiency improvements in appraisals
(a)Appraisals in
connection with federally related transactions
(1)Section 1110 of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3339) is
amended—
(A)in paragraph (1),
by striking and
at the end;
(B)by redesignating
paragraph (2) as paragraph (3); and
(C)by inserting after
paragraph (1) the following new paragraph:
(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
.
(2)Revision of
appraisal standardsEach
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.
(b)Appraiser
certification and licensing requirementsSection 1116 of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3345) is
amended—
(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
;
(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
;
(3)in subsection (e),
by striking The
and inserting Except as provided in
subsection (f), the
; and
(4)by adding at the
end the following new subsection:
(f)Requirements for
appraisers regarding energy-efficiency featuresThe 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.
.
(c)Guidelines for
appraising photovoltaic measures and training of
appraisersSection 1122 of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 (12 U.S.C. 3351) is amended by adding at
the end the following new subsection:
(g)Guidelines for
appraising photovoltaic measures and training of appraisersThe 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—
(1)appraising off-
and on-grid photovoltaic measures for compliance with the appraisal standards
prescribed pursuant to section 1110(2);
(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; and
(3)training of
appraisers to meet the requirements established pursuant to paragraph (2) of
this
subsection.
.
22.Assistance for
Housing Assistance CouncilThe
Secretary of Housing and Urban Development shall require the Housing Assistance
Council—
(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; and
(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.
23.Rural housing
and economic development assistanceThe Secretary of Housing and Urban
Development shall—
(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;
and
(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.
24.Revolving fund
for loans to States and Indian tribes to carry out renewable energy sources
activities
(a)There is established in the Treasury of the United States a
revolving fund, to be known as the Alternative Energy Sources State
Revolving Fund
.
(b)The
Fund shall be credited with—
(1)any amounts
appropriated to the Fund pursuant to subsection (g);
(2)any amounts of
principal and interest from loan repayments received by the Secretary pursuant
to subsection (d)(7); and
(3)any interest
earned on investments of amounts in the Fund pursuant to subsection (e).
(c)
(1)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).
(2)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.
(d)Loans to States
and Indian tribes
(1)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—
(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;
(B)energy efficiency
and energy conserving improvements and features for such structures; or
(C)infrastructure
related to the delivery of electricity and hot water for structures lacking
such amenities.
(2)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.
(3)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—
(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; and
(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.
(4)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.
(5)The aggregate outstanding principal amount from loans
under this subsection to any single State or Indian tribe may not exceed
$500,000,000.
(6)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.
(7)The Secretary shall
require full repayment of each loan made under this section.
(e)
(1)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.
(2)Obligations of
United StatesInvestments may be made only in interest-bearing
obligations of the United States.
(f)
(1)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.
(2)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.
(g)Authorization of
AppropriationsThere is authorized to be appropriated to the Fund
$5,000,000,000.
(h)For
purposes of this section, the following definitions shall apply:
(1)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 (25 U.S.C.
4103).
(2)The
term Secretary
means the Secretary of Housing and Urban
Development.
(3)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.
25.
(a)Insured
depository institutionsSection 8 of the Federal Deposit Insurance
Act (12 U.S.C. 1818) by adding at the end the following new subsection:
(x)
(1)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—
(A)obtaining an home
energy rating or audit for the residence for which such mortgage or loan is
sought;
(B)obtaining financing for cost-effective
energy-saving improvements to such property; and
(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.
(2)Information and
referralsThe information made available to consumers under
paragraph (1) may include—
(A)information on obtaining a home energy
rating and contact information on qualified energy raters in the area of the
residence;
(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;
(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;
(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;
(E)information about, and contact information
for, the Office of Efficiency and Renewable Energy at the Department of Energy,
including the weatherization assistance program;
(F)information about, and contact information
for, the Energy Star Program of the Environmental Protection Agency;
(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; and
(H)such other
information as the agencies or the insured depository institution may determine
to be appropriate or
useful.
.
(b)Section 206 of the Federal Credit Union Act (12 U.S.C.
1786) is amended by adding at the end the following new subsection:
(x)
(1)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—
(A)obtaining an home
energy rating or audit for the residence for which such mortgage or loan is
sought;
(B)obtaining financing for cost-effective
energy-saving improvements to such property; and
(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.
(2)Information and
referralsThe information made available to members under
paragraph (1) may include—
(A)information on obtaining a home energy
rating and contact information on qualified energy raters in the area of the
residence;
(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;
(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;
(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;
(E)information about, and contact information
for, the Office of Efficiency and Renewable Energy at the Department of Energy,
including the weatherization assistance program;
(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; and
(G)such other
information as the Board or the insured credit union may determine to be
appropriate or
useful.
.