1.This Act may be cited as the
Home Energy Loss Prevention
Act
.
2.Energy audit
requirement for single-family and multifamily housing purchased using a
federally related housing loan
(a)Except as provided in subsection (d) and
section 3, a seller of single-family or multifamily housing that will be
purchased with the assistance of a federally related housing loan may not sell
such housing, unless—
(1)not less than 5
years before the time of sale of the housing, an energy audit meeting the
requirements of subsection (b) is conducted with respect to such
housing;
(2)the seller
provides the purchaser a copy of the results of the energy audit referred to in
paragraph (1); and
(3)the results of the
energy audit referred to in paragraph (1) are submitted to the Secretary of
Housing and Urban Development.
(b)An energy audit meets the requirements under this
subsection only if—
(1)the audit is
conducted by a home energy auditor or equivalent, as determined by the
Secretary;
(2)the results of the
audit are recorded using energy audit and disclosure forms prescribed by
regulation by the Secretary for single-family or multifamily housing, as
applicable; and
(3)the results of the
audit include—
(A)a standardized
ratings score, based on a scoring system approved by the Secretary, in
consultation with the Secretary of Energy, that allows the energy efficiency of
the housing to be compared to the energy efficiency of similar housing, as
determined by the Secretary; and
(B)a prioritized
list, based on cost-effectiveness and energy savings, of potential energy
efficiency improvements for the housing.
(c)A
person who accepts applications for federally related housing loans shall
provide to each applicant for such a loan, at the time of such application,
written notice of the following:
(1)The requirements
under subsection (a).
(2)The exception under subsection (d) and
exemption under section 3.
(3)That the
Department of Housing and Urban Development maintains, on an Internet website,
a database containing copies of the results of energy audits conducted pursuant
to this Act.
(4)That the applicant
for the loan may obtain, from the Department of Housing and Urban Development,
copies of any energy audits with respect to the housing for which the loan
application is made that have been submitted to such Department.
(d)Exception for
new energy efficient housingThe requirements under this section shall
not apply with respect to the seller of single-family housing or multifamily
housing that will be purchased with the assistance of a federally related
housing loan if such housing—
(1)was constructed
not more than 5 years before the time of sale involving such loan; and
(2)is—
(A)Energy Star
qualified;
(B)certified under
the Leadership in Energy and Environmental Design (LEED) Green Building Rating
System of the United States Green Building Council; or
(C)certified under an
equivalent certification system approved by the Secretary, in consultation with
the Secretary of Energy.
(e)Accessibility of
energy audit results
(1)The Secretary shall coordinate with appropriate local
recorders of deeds (or other similar local offices responsible for maintaining
records of residential real property interests and transactions) to maintain
copies of the results of energy audits conducted pursuant to this Act on-file
in conjunction with the deeds to such housing.
(2)The Secretary shall
establish and maintain a database containing copies of the results of energy
audits conducted pursuant to this Act and ensure such database is accessible to
the public on an Internet website.
3.The Secretary may grant a seller an
exemption from any requirement of this Act if the Secretary determines that
such requirement would, due to circumstances unique to the single-family
housing or multifamily housing that will be purchased with the assistance of a
federally related housing loan and not based on a condition caused by actions
of the seller, cause undue hardship for the seller. An exemption granted under
this section shall be limited to the minimum change necessary to avoid undue
hardship.
4.In the case of any
sale of single-family or multifamily housing involving a federally related
housing loan in violation of section 2 of this Act, the Secretary shall assess
a civil money penalty against the seller in an amount not to exceed 20 percent
of the sale price of such housing for which such loan is made.
5.Home Energy Loss
Prevention Fund and Fee
(a)The Secretary shall assess persons that
make federally related housing loans a fee for each such loan made, in an
amount to be determined by the Secretary, but not more than necessary to pay
costs incurred in carrying out the responsibilities of the Department of
Housing and Urban Development under this Act. The Secretary shall collect and
deposit such fees in the Home Energy Loss Prevention Fund established under
subsection (b)(1) for use in accordance with this section.
(b)
(1)There
is established in the Treasury of the United States a fund to be known as the
Home Energy Loss Prevention Fund
, consisting of—
(A)amounts collected
as fees assessed under subsection (a); and
(B)any interest earned on investment of
amounts in the Home Energy Loss Prevention Fund credited to the Fund under
paragraph (2)(B).
(2)
(A)The Secretary of the
Treasury shall invest such portion of the Home Energy Loss Prevention Fund as
is not, in the judgment of the Secretary of the Treasury, required to meet
current withdrawals. Investments may be made only in interest-bearing
obligations of the United States.
(B)The interest on, and the
proceeds from the sale or redemption of, any obligations held in the Home
Energy Loss Prevention Fund shall be credited to the Fund.
(3)Use of amounts
in the FundTo the extent
provided in advance in appropriations Acts, amounts in the Home Energy Loss
Prevention Fund shall be made available to the Secretary without fiscal year
limitation to carry out the responsibilities of the Department of Housing and
Urban Development under this Act.
6.Regulations and
effective date
(a)Not later than one year after the date of
enactment of this Act, the Secretary shall promulgate regulations to carry out
this Act.
(b)The requirements under this Act shall take effect 6 months
after the date regulations are promulgated pursuant to subsection (a).
7.In this Act:
(1)The term energy
audit has the meaning given such term in section 391(13) of the Energy
Policy and Conservation Act (42 U.S.C. 6371(13)).
(2)Federally
related housing loanThe term
federally related housing loan means the following loans:
(A)Single-family
housing loansA federally related mortgage loan, as such term is
defined in paragraph (1) of section 3 of the Real Estate Settlement Procedures
Act of 1974 (12 U.S.C. 2602(1)).
(B)Multifamily
housing loansA loan that is
described in paragraph (1) of section 3 of the Real Estate Settlement
Procedures Act of 1974 (12 U.S.C. 2602(1)), except that for purposes of
subparagraph (A) of such paragraph (1) shall be applied—
(i)by substituting (including
condominium and cooperative projects)
for (including individual
units of condominiums and cooperatives)
; and
(ii)by substituting 5 or more
families
for from one to four families
.
(3)The term home energy auditor means a person
who is certified by an agency approved by the Secretary, in consultation with
the Secretary of Energy, to conduct energy audits for single-family housing or
multifamily housing, as applicable.
(4)The term
multifamily housing means any residential structure consisting of
5 or more dwelling units.
(5)The
term Secretary means the Secretary of Housing and Urban
Development.
(6)The term
single-family housing means any residential structure consisting
of 1 to 4 dwelling units.
(7)The term time of sale means, with respect to
any single-family or multifamily housing for which a federally related housing
loan is made, the date of the recording of a deed transferring legal title to
real property to implement the sale of property that involved such loan.