H.R. 2336, The GREEN Act of 2009 (6 comments ↓ | 7 wiki edits: view article ↓)
- This item is from the 111th Congress (2009-2010) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
H.R. 2336 would encourage energy efficiency and conservation and development of renewable energy sources for housing, commercial structures, and other buildings, and to create sustainable communities.
Green Resources for Energy Efficient Neighborhoods Act of 2009 or the GREEN Act of 2009 - Directs the Secretary of Housing and Urban Development (HUD) to establish annual energy efficiency participation incentives for HUD programs to achieve substantial improvements in energy efficiency.
Establishes: (1) basic HUD energy efficiency and conservation standards, including green building standards, for residential single family or multifamily structures; and (2) an energy efficiency and conservation demonstration program for multifamily housing projects assisted with project-based rental assistance.
Amends the Housing and Community Development Act of 1992 to require the Director of the Federal Housing Finance Agency (FHFA) to assign an additional housing credit for compliance with Federal Mortgage Insurance Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) housing goals for energy-efficient and location-efficient mortgages.
Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to require Fannie Mae and Freddie Mac to develop loan products and flexible underwriting guidelines to facilitate a secondary market for energy-efficient and location-efficient mortgages for low and moderate income families, for second and junior mortgages made for purposes of energy efficiency or renewable energy, or both.
Amends the National Housing Act to require the Secretary, in applying underwriting standards for mortgages on single-family housing, to consider the impact on the income of borrowers under Federal Housing Administration (FHA) mortgage insurance programs and Native American and Native Hawaiian loan guarantee programs from savings on utility costs resulting from energy efficiency standards established by this Act.
Amends the Energy Policy Act of 1992 to require the Secretary to establish a commission to develop and recommend model mortgage products and underwriting guidelines that provide market-based incentives to incorporate energy efficiency upgrades and location efficiencies in new mortgage loan transactions.
Amends the Home Mortgage Disclosure Act of 1975 to require the collection of information on energy-efficient and location-efficient mortgages.
Makes it unlawful to deny homeowner insurance for residences that are not connected to or able to receive electricity service from any wholesale or retail electric power provider.
Requires the Secretary to: (1) establish mortgage incentives for energy-efficient multifamily housing; (2) develop and implement a pilot program to facilitate the financing of cost-effective capital improvements for certain assisted housing projects to improve their energy efficiency and conservation; and (3) establish and provide incentives for developers of HUD-financed housing to enter into agreements and partnerships with tree-planting organizations, nurseries, and landscapers for the planting and maintenance of trees, shrubs, grasses, and other plants.
Amends the Housing and Community Development Act of 1974 to direct the Secretary to make grants for energy efficiency improvements in new and existing single-family and multifamily housing.
Amends the Cranston-Gonzalez National Affordable Housing Act to include sustainable development and transportation strategies for affordable housing.
Authorizes the Secretary to make grants to nonprofit organizations to increase low-income community development capacity.
Amends the United States Housing Act of 1937 to prohibit the Secretary from making a site revitalization grant unless the applicant's proposed revitalization plan meets specified Green Developments, Green Communities, and Green Buildings certification requirements.
Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to require real estate appraisals , in determining the value of a property, to consider any renewable energy sources or energy-conserving improvements or features of the property.
Directs the Secretary to require entities receiving assistance from the Housing Assistance Council or the HUD Office of Rural Housing and Economic Development to comply with energy efficiency standards established by this Act.
Establishes in the Treasury the Alternative Energy Sources State Revolving Fund to provide loans to states and Indian tribes to carry out renewable energy and energy conservation activities.
Amends the Federal Deposit Insurance Act to establish and maintain green banking centers to provide energy efficiency information to consumers seeking a mortgage or home equity loan.
Requires the Comptroller General to report to Congress on the effect of this Act on the availability or affordability of mortgages.
Requires the Secretary to obtain from public housing agencies and report to Congress on information on the energy costs of their housing units.
Authorizes the Secretary to make loan guarantees for the financing of renewable energy systems leased for residential use and for the repayment of portions of mortgages used to finance sustainable building elements.
Status of the Legislation
Latest Major Action: 9/22/2010: Placed on the Union Calendar, Calendar No. 361.
Points in Favor
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