[Congressional Record Volume 155, Number 87 (Thursday, June 11, 2009)]
[Senate]
[Pages S6552-S6553]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. SANDERS:
  S. 1246. A bill to establish a home energy retrofit finance program; 
to the Committee on Energy and Natural Resources.
  Mr. SANDERS. Mr. President, I am pleased to introduce legislation to 
establish a Home Energy Retrofit Finance Program. My office has worked 
closely with a number of stakeholders and experts in developing this 
Program. It is supported by the Vermont Energy Investment Corporation, 
the National Trust for Historic Preservation, Green for All, the Apollo 
Alliance, and the Union of Concerned Scientists, because they know that 
improving residential sector energy use is a strategy to address global 
warming, save families on their utility bills, and create jobs.
  Households across the Nation will be able to lower their energy bills 
and generate their own renewable energy through the Program. It would 
provide initial capital to States, according to the established State 
energy program formula, to set up state revolving finance funds. These 
State funds would in turn provide financial support for local 
government programs, such as clean energy district financing, and 
energy utility programs, such as on-bill financing.
  There are already a number of innovative programs to help finance 
residential energy efficiency and renewable energy across the country. 
For example, States such as Vermont, New Mexico, California, Virginia, 
Texas, and Maryland have authorized local governments to provide 
financing to homeowners for energy improvements. Homeowners then can 
pay back the cost of the improvements over time on their property tax 
bills.
  The Home Energy Retrofit Finance Program would give these efforts a 
boost by supporting local government and utility programs that provide 
households with cost-effective financing for energy efficiency measures 
and renewable energy. This Program offers a win-win situation where we 
can achieve our economic and environmental goals. I ask that my 
colleagues consider the merits of the Home Energy Retrofit Finance 
Program as we move forward with comprehensive energy and climate change 
legislation.
  Mr. President, I ask unanimous consent that the text of the bill be 
printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 1246

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Home Energy Retrofit Finance 
     Program Act''.

     SEC. 2. FINDINGS.

       Congress finds that--
       (1) many families lack access to upfront capital to make 
     cost-effective energy improvements to homes and apartments;
       (2) a number of States, local governments, and energy 
     utilities are considering enacting, or have already enacted, 
     innovative energy efficiency and renewable energy finance 
     programs;
       (3) home retrofits create and support jobs in the United 
     States in a number of fields, including jobs for 
     electricians, heating and air conditioning installers, 
     carpenters, construction, roofers, industrial truck drivers, 
     energy auditors and inspectors, construction managers, 
     insulation workers, renewable energy installers, and others;
       (4) cost-effective energy improvements pay for themselves 
     over time and also save consumers energy, reduce energy 
     demand and peak electricity demand, move the United States 
     towards energy independence, reduce greenhouse gas emissions, 
     and improve the value of residential properties;
       (5) modeling has shown that--
       (A) energy efficiency and renewable energy upgrades in just 
     15 percent of residential buildings in the United States 
     would require $280,000,000,000 in financing; and
       (B) the upgrades described in subparagraph (A) could reduce 
     carbon dioxide emissions by more than a gigaton; and
       (6) home retrofits--
       (A) are a key strategy to reducing global warming 
     pollution; and
       (B) create and support green jobs.

     SEC. 3. DEFINITIONS.

       In this Act:
       (1) Eligible participant.--The term ``eligible 
     participant'' means a homeowner, apartment complex owner, 
     residential cooperative association, or condominium 
     association that finances energy efficiency measures and 
     renewable energy improvements to homes and residential 
     buildings under this Act.
       (2) Energy efficiency measure and renewable energy 
     improvement.--The term

[[Page S6553]]

     ``energy efficiency measure and renewable energy 
     improvement'' means any installed measure (including 
     products, equipment, systems, services, and practices) that 
     would result in a reduction in--
       (A) end-use demand for externally supplied energy or fuel 
     by a consumer, facility, or user; and
       (B) carbon dioxide emissions, as determined by the 
     Secretary.
       (3) Program.--The term ``program'' means the Home Energy 
     Retrofit Finance Program established under section 4(a).
       (4) Qualified program delivery entity.--The term 
     ``qualified program delivery entity'' means a local 
     government, energy utility, or any other entity designated by 
     the Secretary that administers the program for a State under 
     this Act.
       (5) Secretary.--The term ``Secretary'' means the Secretary 
     of Energy.

     SEC. 4. HOME ENERGY RETROFIT FINANCE PROGRAM.

       (a) Establishment.--The Secretary shall provide Home Energy 
     Retrofit Finance Program grants to States for the purpose of 
     establishing or expanding a State revolving finance fund to 
     support financing offered by qualified program delivery 
     entities for energy efficiency measures and renewable energy 
     improvements to existing homes and residential buildings 
     (including apartment complexes, residential cooperative 
     associations, and condominium buildings under 5 stories).
       (b) Funding Mechanism.--In carrying out the program, the 
     Secretary shall provide funds to States, for use by qualified 
     program delivery entities that administer finance programs 
     directly or under agreements with collaborating third party 
     entities, to capitalize revolving finance funds and increase 
     participation in associated financing programs.
       (c) Eligibility of Qualified Program Delivery Entities.--
       (1) In general.--The Secretary shall provide guidance to 
     the States on application requirements for a local government 
     or energy utility that seeks to participate in the program, 
     including criteria that require, at a minimum--
       (A) a description of a method for determining eligible 
     energy professionals who can be contracted with under the 
     program for energy audits and energy improvements, including 
     a plan to provide preference for entities that--
       (i) hire locally;
       (ii) partner with State Workforce Investment Boards, labor 
     organizations, community-based organizations, and other job 
     training entities; or
       (iii) are committed to ensuring that at least 15 percent of 
     all work hours are performed by participants from State-
     approved apprenticeship programs; and
       (B) a certification that all of the work described in 
     subparagraph (A) will be carried out in accordance with 
     subchapter IV of chapter 31 of title 40, United States Code.
       (2) Repayment over time.--To be eligible to participate in 
     the program, a qualified program delivery entity shall 
     establish a method by which eligible participants may pay 
     over time for the financed cost of allowable energy 
     efficiency measures and renewable energy improvements.
       (d) Allocation.--In making funds available to States for 
     each fiscal year under this Act, the Secretary shall use the 
     allocation formula used to allocate funds to States to carry 
     out State energy conservation plans under part D of title III 
     of the Energy Policy and Conservation Act (42 U.S.C. 6321 et 
     seq.).
       (e) Use of Funds.--Of the amounts in a State revolving 
     finance fund--
       (1) not more than 20 percent may be used by qualified 
     program delivery entities for interest rate reductions for 
     eligible participants; and
       (2) the remainder shall be available to provide direct 
     funding or other financial support to qualified program 
     delivery entities.
       (f) State Revolving Finance Funds.--On repayment of any 
     funds made available by qualified program delivery entities 
     under the program, the funds shall be deposited in the 
     applicable State revolving finance fund to support additional 
     financing to qualified program delivery entities for energy 
     efficiency measures and renewable energy improvements.
       (g) Coordination With State Energy Efficiency Retrofit 
     Programs.--Home energy retrofit programs that receive 
     financing through the program shall be carried out in 
     accordance with all authorized measures, performance 
     criteria, and other requirements of any applicable Federal 
     home energy efficiency retrofit programs.
       (h) Program Evaluation.--
       (1) In general.--The Secretary shall conduct a program 
     evaluation to determine--
       (A) how the program is being used by eligible participants, 
     including what improvements have been most typical and what 
     regional distinctions exist, if any;
       (B) what improvements could be made to increase the 
     effectiveness of the program; and
       (C) the quantity of verifiable energy savings and renewable 
     energy deployment achieved through the program.
       (2) Reports.--
       (A) In general.--Not later than 3 years after the date of 
     enactment of this Act, the Secretary shall submit to the 
     Committee on Energy and Natural Resources of the Senate and 
     the Committee on Energy and Commerce of the House of 
     Representatives a report that describes the results of the 
     program evaluation required under this subsection, including 
     any recommendations.
       (B) State reports.--Not less than once every 2 years, 
     States participating in the program shall submit to the 
     Secretary reports on the use of funds through the program 
     that include any information that the Secretary may require.

     SEC. 5. AUTHORIZATION OF APPROPRIATIONS.

       (a) In General.--There are authorized to be appropriated 
     such sums as are necessary to carry out this Act for each of 
     fiscal years 2010 through 2015.
       (b) Administrative Expenses.--An amount not exceeding 5 
     percent of the amounts made available under subsection (a) 
     shall be available for each fiscal year to pay the 
     administrative expenses necessary to carry out this Act.
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