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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 1379 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 1379

  To encourage energy efficiency and conservation and development of 
renewable energy sources for housing, commercial structures, and other 
           buildings, and to create sustainable communities.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             June 25, 2009

Mr. Whitehouse (for himself, Mr. Schumer, and Mr. Menendez) introduced 
the following bill; which was read twice and referred to the Committee 
                 on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL

 
  To encourage energy efficiency and conservation and development of 
renewable energy sources for housing, commercial structures, and other 
           buildings, and to create sustainable communities.

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

SECTION 1. SHORT TITLE AND TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Energy Efficiency 
in Housing Act of 2009''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title and table of contents.
Sec. 2. Findings and purposes.
Sec. 3. Definitions.
Sec. 4. Implementation of energy efficiency participation incentives 
                            for HUD programs.
Sec. 5. Incentives for energy efficient mortgages and location 
                            efficient mortgages.
Sec. 6. Mortgage incentives for energy efficient multifamily housing.
Sec. 7. Energy efficiency and conservation demonstration program for 
                            multifamily housing projects assisted with 
                            project-based rental assistance.
Sec. 8. Additional credit for Fannie Mae and Freddie Mac housing goals 
                            for energy efficient mortgages.
Sec. 9. Duty to serve underserved markets for energy efficient and 
                            location efficient mortgages.
Sec. 10. Consideration of energy efficiency under FHA mortgage 
                            insurance programs and Native American and 
                            Native Hawaiian loan guarantee programs.
Sec. 11. Energy efficient mortgages education and outreach campaign.
Sec. 12. Collection of information on energy efficient and location 
                            efficient mortgages through Home Mortgage 
                            Disclosure Act.
Sec. 13. Energy efficiency certifications for housing with mortgages 
                            insured by FHA.
Sec. 14. Assisted housing energy loan pilot program.
Sec. 15. HOPE VI green developments requirement.
Sec. 16. Consideration of energy efficiency improvements in appraisals.
Sec. 17. Additional requirements for the Housing Assistance Council.
Sec. 18. Rural housing and economic development assistance.
Sec. 19. Revolving fund for loans to States and Indian tribes to carry 
                            out renewable energy sources activities.
Sec. 20. Competitive grant program to increase sustainable low-income 
                            community development capacity.
Sec. 21. Insurance coverage for loans for financing of renewable energy 
                            systems leased for residential use.
Sec. 22. Green banking centers.
Sec. 23. GAO reports on availability of affordable mortgages.
Sec. 24. Public housing energy cost report.

SEC. 2. FINDINGS AND PURPOSES.

    (a) Congressional Findings.--The Congress finds that--
            (1) making the United States energy efficient is essential 
        for enhancing national security, fighting climate change, and 
        creating jobs;
            (2) unchecked use of energy resources poses a significant 
        threat to the national security, economy, public health, and 
        welfare of the people of the United States, the well-being of 
        other nations, and the global environment;
            (3) prompt, decisive action is critical to encourage energy 
        efficiency and conservation and the development of renewable 
        energy sources for housing, commercial structures, and other 
        buildings, and to create sustainable communities; and
            (4) it is possible and desirable to reduce energy 
        consumption in the United States while employing--
                    (A) cost containment measures;
                    (B) periodic review of requirements;
                    (C) an aggressive program for deploying advanced 
                energy technology; and
                    (D) programs to assist low- and middle-income 
                energy consumers.
    (b) Purposes.--The purposes of this Act are--
            (1) to encourage the use of energy efficiency and 
        conservation methods in Federal housing programs;
            (2) to expand the use of energy efficient mortgages;
            (3) to provide for the development and installation of 
        renewable energy sources for housing, commercial structures, 
        and other buildings;
            (4) to create sustainable communities;
            (5) to support the creation of a stable ``green jobs'' 
        sector by increasing demand for energy efficient products and 
        professionals with expertise in green building standards; and
            (6) to achieve these goals while preserving the 
        development, benefits, and affordability of Federal housing 
        programs.

SEC. 3. DEFINITIONS.

    In this Act, the following definitions shall apply:
            (1) Energy audit.--The term ``energy audit'' means an 
        investment grade energy audit conducted for purposes of 
        paragraph (2)(B)(iii), in accordance with such standards as the 
        Secretary shall establish, after optional consultation with any 
        advisory committee established pursuant to section 7(c)(2) of 
        this Act.
            (2) Enhanced energy efficiency standards.--The term 
        ``enhanced energy efficiency standards'' means any one of the 
        following:
                    (A) Green building standards.--Green building 
                standards, as that term is defined in paragraph (3).
                    (B) Residential structures.--In the case of a 
                residential single family or multifamily structure, 
                standards established by the Secretary, by regulation, 
                that--
                            (i) impose requirements additional to, or 
                        more stringent than, minimum energy efficiency 
                        standards, as that term is defined in paragraph 
                        (6);
                            (ii) in the case of a newly constructed 
                        structure, are identical to the Energy Star 
                        standards established by the Environmental 
                        Protection Agency, or any successor thereto 
                        adopted by the Secretary by regulation;
                            (iii) in the case of an existing structure, 
                        require 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 minimum 
                        energy efficiency standards.
                    (C) Nonresidential structures.--In the case of a 
                nonresidential structure, include such energy 
                efficiency and conservation requirements, standards, 
                checklists, or rating systems for nonresidential 
                structures as the Secretary determines are necessary.
            (3) Green building standards.--The term ``green building 
        standards'' means systems and standards for residential and 
        nonresidential structures that are established or adopted by 
        the Secretary, by regulation, and that--
                    (A) require the use of sustainable design 
                principles to--
                            (i) reduce the use of nonrenewable 
                        resources;
                            (ii) encourage energy efficient 
                        construction and rehabilitation and the use of 
                        renewable energy resources;
                            (iii) minimize the impact of development on 
                        the environment;
                            (iv) improve indoor air quality;
                            (v) maximize water conservation; and
                            (vi) encourage the selection of building 
                        materials that reduce adverse impacts on the 
                        environment;
                    (B) impose requirements additional to, or more 
                stringent than, minimum energy efficiency standards, as 
                that term is defined in paragraph (6);
                    (C) include--
                            (i) the national Green Communities criteria 
                        checklist for residential construction, which 
                        provides criteria for the design, development, 
                        and operation of affordable housing, or any 
                        successor thereto adopted by the Secretary by 
                        regulation;
                            (ii) the Leadership in Energy and 
                        Environmental Design (LEED) certification for 
                        new construction, the LEED for Homes rating 
                        system, the LEED for Core and Shell rating 
                        system, as applicable, or any successors 
                        thereto adopted by the Secretary by regulation;
                            (iii) the Green Globes assessment and 
                        rating system of the Green Building Initiative;
                            (iv) in the case of manufactured housing, 
                        the Energy Star standards established by the 
                        Environmental Protection Agency with respect to 
                        fixtures, appliances, and equipment in such 
                        housing, or any successor thereto adopted by 
                        the Secretary by regulation;
                            (v) the National Green Building Standard, 
                        only--
                                    (I) if such standard is ratified 
                                under the American National Standards 
                                Institute process;
                                    (II) upon expiration of the 180-day 
                                period beginning upon such 
                                ratification; and
                                    (III) if, during such 180-day 
                                period, the Secretary does not reject 
                                the applicability of such standard for 
                                purposes of this paragraph; and
                            (vi) any other requirement, standard, 
                        checklist, or rating system for green building 
                        or sustainability that the Secretary--
                                    (I) determines is necessary for a 
                                specific type of residential single 
                                family or multifamily structure; or
                                    (II) may determine to adopt or 
                                apply not later than 180 days after the 
                                date of receipt of any written request, 
                                made in such form as the Secretary 
                                shall provide, for such adoption and 
                                application; and
                    (D) may be waived by the Secretary, if the 
                Secretary determines that waiver of such regulations 
                would promote enhanced energy efficiency or 
                conservation.
            (4) HUD.--The term ``HUD'' means the Department of Housing 
        and Urban Development.
            (5) HUD assistance.--The term ``HUD assistance'' means 
        financial assistance that is awarded, competitively or 
        noncompetitively, allocated by formula, or provided by HUD 
        through loan insurance or guarantee.
            (6) Minimum energy efficiency standards.--
                    (A) In general.--The term ``minimum energy 
                efficiency standards'' has the meaning given that term 
                by regulations of the Secretary.
                    (B) Regulations for residential structures.--
                Regulations issued by the Secretary under subparagraph 
                (A) shall, in the case of a residential single family 
                or multifamily structure--
                            (i) require the structure to comply with 
                        the applicable provisions of the American 
                        Society of Heating, Refrigerating, and Air-
                        Conditioning Engineers Standard 90.1-2007, or 
                        any successor thereto adopted by the Secretary, 
                        by regulation;
                            (ii) require the structure to comply with 
                        the applicable provisions of the 2009 
                        International Energy Conservation Code, or any 
                        successor thereto adopted by the Secretary, by 
                        regulation;
                            (iii) in the case of an existing 
                        structure--
                                    (I) where the Secretary determines 
                                such action is cost effective, 
                                require--
                                            (aa) the structure to have 
                                        undergone rehabilitation or 
                                        improvements that are completed 
                                        after the date of enactment of 
                                        this Act; and
                                            (bb) the energy consumption 
                                        for the structure to have been 
                                        reduced by not less than 20 
                                        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;
                                    (II) if the structure has 4 stories 
                                or more, require the structure to 
                                demonstrate a 20 percent improvement in 
                                the proposed building performance 
                                rating when compared to a baseline 
                                building performance rating resulting 
                                from a whole building project 
                                simulation conducted in accordance with 
                                the Building Performance Rating Method 
                                in Appendix G of American Society of 
                                Heating, Refrigerating, and Air-
                                Conditioning Engineers Standard 90.1-
                                2004, or any successor thereto adopted 
                                by the Secretary, by regulation; and
                                    (III) if the structure has fewer 
                                than 4 stories, require the structure 
                                to demonstrate, by modeling based on 
                                the Home Energy Rating System Index of 
                                the Residential Energy Services 
                                Network, a 20 percent improvement in 
                                the proposed building performance 
                                rating; and
                            (iv) require the structure to comply with 
                        any provisions of such other energy efficiency 
                        requirements, standards, checklists, or ratings 
                        systems as the Secretary determines are 
                        necessary for a specific type of residential 
                        single family or multifamily structure; and
                    (C) Regulations for nonresidential structures.--
                Regulations issued by the Secretary under subparagraph 
                (a) shall, in the case of a nonresidential structure 
                that is constructed or rehabilitated with HUD 
                assistance--
                            (i) require the structure to be not less 
                        than 30 percent more energy efficient than 
                        required by local residential and commercial 
                        building codes regarding energy efficiency; and
                            (ii) require the structure to comply with 
                        such additional energy efficiency requirements, 
                        standards, checklists, or rating systems as the 
                        Secretary determines are applicable to 
                        nonresidential structures.
            (7) Nonresidential structures.--The term ``nonresidential 
        structures'' means only nonresidential structures that are 
        appurtenant to single family or multifamily housing residential 
        structures, or those that are funded by the Secretary through 
        the HUD Community Development Block Grant program established 
        under title I of the Housing and Community Development Act of 
        1974 (42 U.S.C. 5301 et seq.).
            (8) Secretary.--The term ``Secretary'', unless otherwise 
        specified, means the Secretary of Housing and Urban 
        Development.

SEC. 4. IMPLEMENTATION OF ENERGY EFFICIENCY PARTICIPATION INCENTIVES 
              FOR HUD PROGRAMS.

    Not later than 180 days after the date of enactment of this Act, 
the Secretary shall issue such regulations as may be necessary to 
establish annual energy efficiency participation incentives to 
encourage participants in programs administered by the Secretary, 
including recipients under programs for which HUD assistance is 
provided, to achieve substantial improvements in energy efficiency.

SEC. 5. INCENTIVES FOR ENERGY EFFICIENT MORTGAGES AND LOCATION 
              EFFICIENT MORTGAGES.

    (a) In General.--The Secretary shall establish budget-neutral 
incentives for encouraging lenders to make, and homebuyers and 
homeowners to participate in, energy efficient mortgages and location 
efficient mortgages.
    (b) Incentives.--The incentives required under subsection (a) may 
include--
            (1) fee reductions;
            (2) fee waivers;
            (3) interest rate reductions; and
            (4) adjustment of mortgage qualifications.
    (c) Additional Consideration.--In establishing the incentives 
required under subsection (a), the Secretary shall consider the lower 
risk of default on energy efficient mortgages and location efficient 
mortgages in comparison to mortgages that are not energy efficient or 
location efficient.
    (d) Definitions.--The terms ``energy efficient mortgage'' and 
``location efficient mortgage'' have the same meaning as in section 
1335(e) of the Federal Housing Enterprises Financial Safety and 
Soundness Act of 1992 (12 U.S.C. 4565(e)) (as added by section 8 of 
this Act).

SEC. 6. MORTGAGE INCENTIVES FOR ENERGY EFFICIENT MULTIFAMILY HOUSING.

    (a) In General.--The Secretary shall establish--
            (1) 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. 1707 et 
        seq.) so that such housing meets minimum energy standards; and
            (2) incentives to encourage compliance of such housing with 
        enhanced energy efficiency standards, to the extent that such 
        incentives are based on the impact that savings on utility 
        costs have on the operating costs of the housing, as determined 
        by the Secretary.
    (b) Incentives.--The incentives required under subsection (a) may 
include, for any such multifamily housing that meets minimum energy 
efficiency standards--
            (1) providing a discount on the chargeable premiums for the 
        mortgage insurance for such housing from the amount otherwise 
        chargeable for such mortgage insurance;
            (2) 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
            (3) reducing the amount that the owner of such multifamily 
        housing is required to contribute.

SEC. 7. ENERGY EFFICIENCY AND CONSERVATION DEMONSTRATION PROGRAM FOR 
              MULTIFAMILY HOUSING PROJECTS ASSISTED WITH PROJECT-BASED 
              RENTAL ASSISTANCE.

    (a) Authority.--
            (1) In general.--For multifamily housing projects for which 
        project-based rental assistance is provided under a covered 
        multifamily assistance program, the Secretary shall, subject to 
        the availability of amounts provided in advance in 
        appropriation Acts, carry out a program to demonstrate the 
        effectiveness of funding a portion of the costs of meeting 
        enhanced energy efficiency standards.
            (2) Indian housing.--At the discretion of the Secretary, 
        the demonstration program required under paragraph (1) may 
        include incentives for housing that is assisted with Indian 
        housing block grants provided pursuant to the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 
        U.S.C. 4101 et seq.), but only to the extent that such 
        inclusion does not violate such Act, regulations promulgated 
        pursuant to such Act, and the goal of such Act of tribal self-
        determination.
    (b) Goals.--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 such 
        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) allows project owners and tenants to share the savings 
        in operating costs resulting from such renovations and 
        improvements in accordance with an appropriate ratio;
            (6) 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;
            (7) tests the efficacy of a variety of energy efficiency 
        measures for multifamily housing projects of various sizes and 
        in various geographic locations;
            (8) 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
            (9) creates a database of energy efficiency and 
        conservation, and renewable energy, techniques, energy savings 
        management practices, and energy efficiency and conservation 
        financing vehicles.
    (c) Approaches.--In carrying out the demonstration program under 
this section, the Secretary may take the following actions:
            (1) Enter into agreements with the Building America Program 
        of the Department of Energy 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 that--
                    (A) include representatives of homebuilders, 
                realtors, architects, nonprofit housing organizations, 
                environmental protection organizations, renewable 
                energy organizations, State housing finance agencies, 
                and advocacy organizations for low-income individuals, 
                the elderly, and persons with disabilities; and
                    (B) are not subject to the Federal Advisory 
                Committee Act (5 U.S.C. App.).
            (3) 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.
            (4) Waive or modify any existing Federal 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. Notwithstanding the preceding provisions of this 
        paragraph, the Secretary may not waive any statutory 
        requirement relating to fair housing, nondiscrimination, labor 
        standards, or the environment, except pursuant to existing 
        authority to waive nonstatutory environmental and other 
        applicable requirements.
    (d) Requirement.--During the 4-year period beginning 12 months 
after the date of 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) Selection.--
            (1) Scope.--
                    (A) In general.--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, technical and scientific methodologies, 
                and financing options.
                    (B) Indian lands.--The Secretary shall ensure that 
                the geographic areas included in the demonstration 
                program under this section include dwelling units on 
                Indian lands (as that term is defined in section 2601 
                of the Energy Policy Act of 1992 (25 U.S.C. 3501)), to 
                the extent that dwelling units on Indian land have the 
                type of residential structures that are the focus of 
                the demonstration program.
            (2) Priority.--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, the project will meet minimum energy efficiency 
        standards or enhanced energy efficiency standards.
    (f) Use of Existing Partnerships.--To the extent feasible, the 
Secretary shall--
            (1) utilize the Partnership for Advancing Technology in 
        Housing of the Department of Housing and Urban Development to 
        assist in carrying out the requirements of this section and to 
        provide education and outreach regarding the demonstration 
        program authorized 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 determine the manner in 
        which such programs might assist in carrying out the goals of 
        this section and providing education and outreach regarding the 
        demonstration program authorized under this section.
    (g) Reports.--
            (1) Annual report.--Not later than 2 years after the date 
        of enactment of this Act, and for each year thereafter during 
        the term of the demonstration program, the Secretary shall 
        submit to Congress a report that describes and assesses the 
        demonstration program under this section.
            (2) Final report.--Not later than 6 months after the 
        expiration of the 4-year period described in subsection (d), 
        the Secretary shall submit to Congress a final report assessing 
        the demonstration program that--
                    (A) assesses the potential for expanding the 
                demonstration program on a nationwide basis; and
                    (B) includes 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 
                        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 such successes and 
                        failures.
            (3) Contents.--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) Covered Multifamily Assistance Program.--For purposes of this 
section, the term ``covered multifamily assistance program'' means--
            (1) the program under section 8 of the United States 
        Housing Act of 1937 (42 U.S.C. 1437f) for project-based rental 
        assistance;
            (2) the program under section 202 of the Housing Act of 
        1959 (12 U.S.C. 1701q) for assistance for supportive housing 
        for the elderly;
            (3) 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
            (4) the program for assistance under the Native American 
        Housing Assistance and Self-Determination Act of 1996 (25 
        U.S.C. 4111).
    (i) Authorization of Appropriations.--There is authorized to be 
appropriated to carry out this section $50,000,000 for each fiscal year 
in which the demonstration program under this section is carried out.
    (j) Regulations.--Not later than 180 days after the date of 
enactment of this Act, the Secretary shall issue any regulations 
necessary to carry out this section.

SEC. 8. ADDITIONAL CREDIT FOR FANNIE MAE AND FREDDIE MAC HOUSING GOALS 
              FOR ENERGY EFFICIENT MORTGAGES.

    Section 1336(a) of the Housing and Community Development Act of 
1992 (12 U.S.C. 4566(a)) is amended--
            (1) in paragraph (2), by striking ``paragraph (5)'' and 
        inserting ``paragraphs (5) and (6)''; and
            (2) by adding at the end the following:
            ``(6) Additional energy efficiency credit.--
                    ``(A) In general.--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 
                        purchases that--
                                    ``(I) comply with the requirements 
                                of such goals; and
                                    ``(II) support housing that meets 
                                minimum energy efficiency standards, as 
                                that term is defined in section 3 of 
                                the Energy Efficiency in Housing Act of 
                                2009; and
                            ``(ii) credit in addition to credit under 
                        clause (i), for purchases that--
                                    ``(I) comply with the requirements 
                                of such goals; and
                                    ``(II) support housing that 
                                complies with enhanced energy 
                                efficiency standards, as that term is 
                                defined in section 3 of such Act.
                    ``(B) Treatment of additional credit.--The 
                availability of additional credit under this paragraph 
                shall not be used to increase any housing goal, 
                subgoal, or target established under this subpart.''.

SEC. 9. DUTY TO SERVE UNDERSERVED MARKETS FOR ENERGY EFFICIENT AND 
              LOCATION EFFICIENT MORTGAGES.

    Section 1335 of the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992 (12 U.S.C. 4565) is amended--
            (1) in subsection (a)(1), by adding at the end the 
        following:
                    ``(D) Markets for energy efficient and location 
                efficient mortgages.--
                            ``(i) Duty.--Except as provided in clause 
                        (ii), the enterprise shall develop loan 
                        products and flexible underwriting guidelines 
                        to facilitate a secondary market for energy 
                        efficient and location efficient mortgages on 
                        housing for very low-, low-, and moderate-
                        income families, and for second and junior 
                        mortgages made for purposes of energy 
                        efficiency or renewable energy improvements.
                            ``(ii) Authority to suspend.--
                        Notwithstanding any other provision of this 
                        section, the Director may suspend the 
                        applicability of the requirement under clause 
                        (i) with respect to an enterprise, for such 
                        period as is necessary, if the Director 
                        determines that exigent circumstances exist and 
                        such suspension is appropriate to ensure the 
                        safety and soundness of the portfolio holdings 
                        of the enterprise.'';
            (2) by adding at the end the following:
    ``(e) Definitions.--For purposes of this section, the following 
definitions shall apply:
            ``(1) Energy efficient mortgage.--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--
                    ``(A) not less than $1 for each $1 of savings 
                projected to be realized by the borrower as a result of 
                cost-effective energy saving design, construction, or 
                improvements (including use of renewable energy 
                sources, such as solar, geothermal, biomass, and wind, 
                superinsulation, energy-saving windows, insulating 
                glass and film, and radiant barrier) for the home for 
                which the loan is made; or
                    ``(B) a ratio of income to savings determined by 
                the Director.
            ``(2) Location efficient mortgage.--The term `location 
        efficient mortgage' means a mortgage loan under which--
                    ``(A) the income of the borrower, for purposes of 
                qualification for such loan, is considered to be 
                increased by--
                            ``(i) not less than $1 for each $1 of 
                        savings projected to be realized by the 
                        borrower because the location of the home for 
                        which the loan is made will result in decreased 
                        transportation costs for the household of the 
                        borrower; or
                            ``(ii) a ratio of income to savings 
                        determined by the Director; or
                    ``(B) the sum of the principal, interest, taxes, 
                and insurance due under the mortgage loan is decreased 
                by--
                            ``(i) 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 will result in decreased 
                        transportation costs for the household of the 
                        borrower; or
                            ``(ii) a ratio of principal, interest, 
                        taxes, and insurance due under the mortgage to 
                        savings projected to be realized by the 
                        borrower determined by the Director.''.

SEC. 10. CONSIDERATION OF ENERGY EFFICIENCY UNDER FHA MORTGAGE 
              INSURANCE PROGRAMS AND NATIVE AMERICAN AND NATIVE 
              HAWAIIAN LOAN GUARANTEE PROGRAMS.

    (a) FHA Mortgage Insurance.--
            (1) Requirement.--Title V of the National Housing Act is 
        amended by adding after section 542 (12 U.S.C. 1735f-20) the 
        following:

``SEC. 543. CONSIDERATION OF ENERGY EFFICIENCY.

    ``(a) Underwriting Standards.--In establishing underwriting 
standards for mortgages on single family housing that meets minimum 
energy efficiency standards, as that term is defined in section 3 of 
the Energy Efficiency in Housing Act of 2009, that are insured under 
this Act, the Secretary shall consider the impact that savings on 
utility costs has on the income of the mortgagor.
    ``(b) Goal.--It is the sense of the Congress that, in carrying out 
this Act, the Secretary should endeavor to insure mortgages on single 
family housing that meets minimum energy efficiency standards, as that 
term is defined in section 3 of the Energy Efficiency in Housing Act of 
2009, such that at least 50,000 such mortgages are insured during the 
period beginning on the date of enactment of such Act and ending on 
December 31, 2012.''.
            (2) Reporting on defaults.--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:
                    ``(C) With respect to each collection period that 
                commences after December 31, 2011--
                            ``(i) the total number of mortgages on 
                        single family housing that meets minimum energy 
                        efficiency standards, as that term is defined 
                        in section 3 of the Energy Efficiency in 
                        Housing Act of 2009, that are insured by the 
                        Secretary during the applicable collection 
                        period;
                            ``(ii) the number of defaults and 
                        foreclosures occurring on such mortgages during 
                        such period;
                            ``(iii) the percentage of the total of such 
                        mortgages insured during such period on which 
                        defaults and foreclosure occurred; and
                            ``(iv) 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 under this Act by the 
                        Secretary.''.
    (b) Indian Housing Loan Guarantees.--
            (1) Requirement.--Section 184 of the Housing and Community 
        Development Act of 1992 (12 U.S.C. 1715z-13a) is amended--
                    (A) by redesignating subsection (l) as subsection 
                (m); and
                    (B) by inserting after subsection (k) the 
                following:
    ``(l) Consideration of Energy Efficiency.--The Secretary shall 
establish a method to consider, in its underwriting standards for loans 
for single family housing that meet minimum energy efficiency 
standards, as that term is defined in section 3 of the Energy 
Efficiency in Housing Act of 2009, that are guaranteed under this 
section, the impact that savings on utility costs has on the portion of 
the income of the borrower that is available to service the mortgage 
debt.''.
            (2) Reporting on defaults.--Section 540(b)(2) of the 
        National Housing Act (12 U.S.C. 1735f-18(b)(2)), as amended by 
        subsection (a)(2) of this section, is amended by adding at the 
        end the following:
                    ``(D) With respect to each collection period that 
                commences after December 31, 2011--
                            ``(i) the total number of loans guaranteed 
                        under section 184 of the Housing and Community 
                        Development Act of 1992 (12 U.S.C. 1715z-13a) 
                        for single family housing that meets enhanced 
                        energy efficiency standards, as that term is 
                        defined in section 3 of the Energy Efficiency 
                        in Housing Act of 2009, that are guaranteed by 
                        the Secretary during the applicable collection 
                        period;
                            ``(ii) the number of defaults and 
                        foreclosures that occur on such loans during 
                        such period;
                            ``(iii) the percentage of the total number 
                        of such loans guaranteed during such period on 
                        which defaults and foreclosures occurred; and
                            ``(iv) the rate for such period of defaults 
                        and foreclosures on such loans compared to the 
                        overall rate for such period of defaults and 
                        foreclosures on loans for single family housing 
                        guaranteed under section 184 of such Act.''.
    (c) Native Hawaiian Housing Loan Guarantees.--
            (1) Requirement.--Section 184A of the Housing and Community 
        Development Act of 1992 (12 U.S.C. 1715z-13b) is amended by 
        adding at the end the following:
    ``(m) Energy Efficient Housing Requirement.--The Secretary shall 
establish a method to consider, in its underwriting standards for loans 
for single family housing that meets minimum energy efficiency 
standards, as that term is defined in section 3 of the Energy 
Efficiency in Housing Act of 2009, that are guaranteed under this 
section, the impact that savings on utility costs have on the income of 
the borrower.''.
            (2) Reporting on defaults.--Section 540(b)(2) of the 
        National Housing Act (12 U.S.C. 1735f-18(b)(2)), as amended by 
        the preceding provisions of this section, is amended by adding 
        at the end the following:
                    ``(E) With respect to each collection period that 
                commences after December 31, 2011--
                            ``(i) the total number of loans guaranteed 
                        under section 184A of the Housing and Community 
                        Development Act of 1992 (12 U.S.C. 1715z-13b) 
                        on single family housing that meets enhanced 
                        energy efficiency standards, as that term is 
                        defined in section 3 of the Energy Efficiency 
                        in Housing Act of 2009, that are guaranteed by 
                        the Secretary during the applicable collection 
                        period;
                            ``(ii) the number of defaults and 
                        foreclosures occurring on such loans during 
                        such period;
                            ``(iii) the percentage of the total of such 
                        loans guaranteed during such period on which 
                        defaults and foreclosures occurred; and
                            ``(iv) the rate for such period of defaults 
                        and foreclosures on such loans compared to the 
                        overall rate for such period of defaults and 
                        foreclosures on loans for single family housing 
                        guaranteed under such section 184A.''.

SEC. 11. ENERGY EFFICIENT MORTGAGES EDUCATION AND OUTREACH CAMPAIGN.

    Section 513 of the Housing and Community Development Act of 1992 
(12 U.S.C. 1701z-16 note) is amended by adding at the end the 
following:
    ``(g) Education and Outreach Campaign.--
            ``(1) Development of energy efficient mortgage outreach 
        program.--
                    ``(A) Commission.--The Secretary, in consultation 
                and coordination with the Secretary of Energy, the 
                Secretary of Education, the Secretary of Agriculture, 
                and the Administrator of the Environmental Protection 
                Agency, shall establish a commission to develop and 
                recommend model mortgage products and underwriting 
                guidelines that provide market-based incentives to 
                prospective home buyers, lenders, and sellers to 
                incorporate energy efficiency upgrades in new mortgage 
                loan transactions.
                    ``(B) Report.--Not later than 24 months after the 
                date of enactment of this subsection, the Secretary 
                shall submit to Congress a written report on the 
                results of work of the commission established pursuant 
                to subparagraph (A) and that identifies model mortgage 
                products and underwriting guidelines that may encourage 
                energy efficiency.
            ``(2) Implementation.--
                    ``(A) In general.--After submission of the report 
                under paragraph (1)(B), the 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 
                based on the findings of the commission established 
                pursuant to paragraph (1) to inform and educate 
                residential lenders and prospective borrowers regarding 
                the availability, benefits, advantages, and terms of--
                            ``(i) energy efficient mortgages made 
                        available pursuant to this section;
                            ``(ii) energy efficient mortgages that meet 
                        the requirements of section 1334A of this Act; 
                        and
                            ``(iii) other mortgages, including 
                        mortgages for multifamily housing, that have 
                        energy improvement features.
                    ``(B) Contracting.--The Secretary may enter into a 
                contract with an appropriate entity to publicize and 
                market such mortgages through appropriate media.
            ``(3) Renewable energy home product expositions.--It is the 
        sense of Congress that the Secretary of Housing and Urban 
        Development should work with appropriate entities to organize 
        and hold renewable energy expositions that provide an 
        opportunity for the public to view and learn about renewable 
        energy products for the home that are currently on the market.
            ``(4) Authorization of appropriations.--There is authorized 
        to be appropriated to the Secretary to carry out this 
        subsection $5,000,000 for each of fiscal years 2010 through 
        2013.''.

SEC. 12. COLLECTION OF INFORMATION ON ENERGY EFFICIENT AND LOCATION 
              EFFICIENT MORTGAGES THROUGH HOME MORTGAGE DISCLOSURE ACT.

    (a) In General.--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 the 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) Applicability.--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 enactment of 
this Act.

SEC. 13. ENERGY EFFICIENCY CERTIFICATIONS FOR HOUSING WITH MORTGAGES 
              INSURED BY FHA.

    Section 526 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 that term appears;
                    (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 Energy 
                Star ratings for wall fixtures, appliances, and 
                equipment in such homes.'';
                    (C) by striking ``(a) To'' and inserting the 
                following:
    ``(a) Energy Efficiency.--
            ``(1) In general.--To''; and
                    (D) by adding at the end the following:
            ``(2) Certification.--The Secretary shall require, with 
        respect to any single family or multifamily 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 that 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, or by a 
        licensed professional architect or engineer that has been 
        accredited as a LEED Accredited Professional by the Green 
        Building Certification Institute. 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 6 months after receipt of such request.
            ``(3) Listing.--Each regional office of the Department of 
        Housing and Urban Development shall maintain a list of 
        individuals certified by a home energy rating system provider 
        that has been accredited to conduct such ratings by the Home 
        Energy Ratings System Council, the Residential Energy Services 
        Network, or such other appropriate national organizations or 
        professionals as the Secretary may designate. Such list shall 
        indicate that home energy rating system providers accredited by 
        the Residential Energy Services Network are preferred by the 
        Department of Housing and Urban Development.
            ``(4) Periodic examination of method.--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
            (2) in subsection (b)--
                    (A) by striking ``, other than a manufactured 
                home,''; and
                    (B) by striking ``(b) The'' and inserting the 
                following:
    ``(b) Health and Safety.--The''.

SEC. 14. ASSISTED HOUSING ENERGY LOAN PILOT PROGRAM.

    (a) Authority.--Not later than 12 months after the date of 
enactment of this Act, the Secretary shall develop and implement a 
pilot program 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) Number of Lenders.--The pilot program under this section shall 
involve not less than 3 and not more than 5 lenders.
    (c) Loans.--The pilot program under this section shall provide for 
a privately financed loan to be made for a covered assisted housing 
project that--
            (1) finances 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, including the design of such improvements by 
        licensed professional architects or engineers;
            (2) has a term to maturity that is--
                    (A) not more than 20 years; and
                    (B) necessary to realize cost savings sufficient to 
                repay such loan;
            (3) is secured by a mortgage subordinate to the mortgage 
        for the project that is insured under title II of the National 
        Housing Act; and
            (4) provides for a reduction in the remaining principal 
        obligation under the loan based on the actual cost savings 
        realized from the capital improvements financed with the loan.
    (d) Underwriting Standards.--The Secretary shall establish 
underwriting requirements for loans made under the pilot 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 designer or 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.
    (e) Treatment of Savings.--The pilot program under this section 
shall provide that the financial benefit from any reduction in the cost 
of utilities resulting from capital improvements financed with a loan 
made under the program shall be shared between the project owner and 
the tenants in accordance with an appropriate ratio, as determined by 
the Secretary.
    (f) Covered Assisted Housing Projects.--For 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 paragraph (3) or 
                (4) of section 221(d) of the National Housing Act (12 
                U.S.C. 1715l(d)), 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);
            (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; and
            (3) is not a housing project owned or held by the 
        Secretary, or subject to a mortgage held by the Secretary.

SEC. 15. HOPE VI GREEN DEVELOPMENTS REQUIREMENT.

    (a) Mandatory Component.--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:
            ``(4) Green developments requirement.--
                    ``(A) Requirement.--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) Residential construction.--All 
                        residential construction under the proposed 
                        plan complies with--
                                    ``(I) all mandatory items of the 
                                national Green Communities criteria 
                                checklist for residential construction 
                                and rehabilitation and such 
                                nonmandatory items of such checklist as 
                                are necessary for a residential 
                                construction to receive--
                                            ``(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; or
                                    ``(II) a substantially equivalent 
                                standard, as determined by the 
                                Secretary.
                            ``(ii) Nonresidential construction.--All 
                        nonresidential 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 at the time of the application 
                        for the grant.
                    ``(B) Verification.--
                            ``(i) In general.--The Secretary shall 
                        verify, or provide for verification sufficient 
                        to ensure, that each revitalization plan 
                        carried out with amounts from a grant under 
                        this section complies with the requirements 
                        under subparagraph (A).
                            ``(ii) Timing.--In providing for such 
                        verification, the Secretary shall establish 
                        procedures to ensure such compliance with 
                        respect to each grantee, and shall submit a 
                        report to Congress with respect to the 
                        compliance of each grantee--
                                    ``(I) not later than 6 months after 
                                execution of the grant agreement under 
                                this section for the grantee; and
                                    ``(II) on completion of the 
                                revitalization plan of the grantee.
                    ``(C) Identification of green buildings rating 
                systems and levels.--
                            ``(i) In general.--For purposes of this 
                        paragraph, the Secretary, in consultation with 
                        the Secretary of Energy, 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.
                            ``(ii) Criteria.--In identifying the green 
                        rating systems and levels under clause (i), 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) Five-year evaluation.--At least 
                        once every 5 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).
                            ``(iv) Review and update.--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.
                    ``(D) Applicability and updating of standards.--
                            ``(i) Applicability.--Except as provided in 
                        clause (ii), the national Green Communities 
                        criteria checklist and green building rating 
                        systems and levels referred to in subparagraph 
                        (A) that are in effect for purposes of this 
                        paragraph are such checklist systems and levels 
                        as in existence on the date of enactment of the 
                        Energy Efficiency in Housing Act of 2009.
                            ``(ii) Updating.--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 Component.--Section 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:
                    ``(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 nonresidential 
                        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''.

SEC. 16. CONSIDERATION OF ENERGY EFFICIENCY IMPROVEMENTS IN APPRAISALS.

    (a) Appraisals in Connection With Federally Related Transactions.--
            (1) Requirement.--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:
            ``(2) that such appraisals be performed in accordance with 
        appraisal standards that require, in determining the value of a 
        property, consideration of the ongoing utility savings and 
        increased value from the savings that result from--
                    ``(A) any renewable energy sources for the 
                property; or
                    ``(B) energy efficiency or energy conserving 
                improvements or features of the property; and''.
            (2) Revision of appraisal standards.--Each Federal 
        financial institution regulatory agency shall, not later than 6 
        months after the date of 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).
    (b) Appraiser Certification and Licensing Requirements.--Section 
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:
    ``(f) Requirements for Appraisers Regarding Energy Efficiency 
Features.--The 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 and Solar Thermal 
Measures and Training of Appraisers.--Section 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:
    ``(g) Guidelines for Appraising Photovoltaic and Solar Thermal 
Measures and Training of Appraisers.--The 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 and solar 
        thermal 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 and solar thermal 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.''.

SEC. 17. ADDITIONAL REQUIREMENTS FOR THE HOUSING ASSISTANCE COUNCIL.

    The Secretary 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 to provide that any structure or building developed 
        or assisted under projects, programs, and activities funded 
        with such amounts complies with enhanced energy efficiency 
        standards; and
            (2) to establish incentives to encourage each such 
        organization to provide that any such structure or building 
        complies with enhanced energy efficiency standards.

SEC. 18. RURAL HOUSING AND ECONOMIC DEVELOPMENT ASSISTANCE.

    The Secretary 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 
        structure or building developed or assisted under activities 
        funded with such amounts complies with minimum energy 
        efficiency standards; and
            (2) establish incentives to encourage each such tribe, 
        agency, organization, corporation, and other entity to provide 
        that any such structure or building comply with enhanced energy 
        efficiency standards.

SEC. 19. REVOLVING FUND FOR LOANS TO STATES AND INDIAN TRIBES TO CARRY 
              OUT RENEWABLE ENERGY SOURCES ACTIVITIES.

    (a) Establishment of Fund.--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) Credits.--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) Expenditures.--
            (1) In general.--Subject to paragraph (2), on request by 
        the Secretary, 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) Administrative expenses.--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) In general.--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 
                businesses 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) Eligibility.--To be eligible to receive a loan under 
        this subsection, a State or Indian tribe, directly or 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) Criteria for approval.--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 minimum energy 
                efficiency standards; 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) Preference.--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) Maximum amount.--The aggregate outstanding principal 
        amount from loans under this subsection to any single State or 
        Indian tribe may not exceed $500,000,000.
            (6) Loan terms.--Each loan under this subsection shall have 
        a term to maturity of not more than 10 years and shall bear 
        interest at an annual rate, determined by the Secretary, that 
        shall not exceed the 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) Loan repayment.--The Secretary shall require full 
        repayment of each loan made under this section.
    (e) Investment of Amounts.--
            (1) In general.--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 states.--Investments may be made 
        only in interest-bearing obligations of the United States.
    (f) Reports.--
            (1) Reports to secretary.--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) Report to congress.--Not later than September 30 of 
        each year that loans made under subsection (d) are outstanding, 
        the Secretary shall submit a report to 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 Appropriations.--There is authorized to be 
appropriated to the Fund $5,000,000,000.
    (h) Definitions.--In this section, the following definitions shall 
apply:
            (1) Indian tribe.--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) State.--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.

SEC. 20. COMPETITIVE GRANT PROGRAM TO INCREASE SUSTAINABLE LOW-INCOME 
              COMMUNITY DEVELOPMENT CAPACITY.

    (a) Definitions.--In this section:
            (1) Eligible community development organization.--The term 
        ``eligible community development organization'' means--
                    (A) a unit of general local government, as that 
                term is defined in section 104 of the Cranston-Gonzalez 
                National Affordable Housing Act (42 U.S.C. 12704));
                    (B) a community housing development organization, 
                as that term is defined in section 104 of the Cranston-
                Gonzalez National Affordable Housing Act (42 U.S.C. 
                12704));
                    (C) an Indian tribe or tribally designated housing 
                entity, as those terms are defined in section 4 of the 
                Native American Housing Assistance and Self-
                Determination Act of 1996 (25 U.S.C. 4103)); and
                    (D) a public housing agency, as that term is 
                defined in section 3(b) of the United States Housing 
                Act of 1937 (42 U.S.C. 1437(b)).
            (2) Low-income community.--The term ``low-income 
        community'' means a census tract in which 50 percent or more of 
        the households have an annual income that is less than 80 
        percent of the greater of--
                    (A) the median gross income for that year for the 
                area in which the census tract is located; or
                    (B) the median gross income for that year for the 
                State in which the census tract is located.
            (3) Nonprofit organization.--The term ``nonprofit 
        organization'' has the same meaning as in section 104 of the 
        Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 
        12704).
    (b) Program Established.--The Secretary shall establish a 
competitive grant program to make grants to nonprofit organizations 
to--
            (1) carry out a project described in subsection (c);
            (2) train, educate, support, or advise an eligible 
        community development organization that carries out a project 
        described in subsection (c);
            (3) provide planning and design assistance to eligible 
        community development organizations;
            (4) make loans or grants to eligible community development 
        organizations; or
            (5) carry out other activities consistent with this 
        section, as the Secretary determines appropriate.
    (c) Projects.--The projects described in this subsection are 
projects--
            (1) that take into consideration minimum energy efficiency 
        standards, enhanced energy efficiency standards, and green 
        building standards; and
            (2) that--
                    (A) improve the energy efficiency of residential 
                and nonresidential structures;
                    (B) promote resource conservation and reuse;
                    (C) include design strategies to maximize the 
                energy efficiency of residential and nonresidential 
                structures;
                    (D) install or construct renewable energy 
                improvements for residential and nonresidential 
                structures, including wind, wave, solar, biomass, and 
                geothermal energy sources; or
                    (E) promote the effective use of existing 
                infrastructure in affordable housing and economic 
                development activities in low-income communities.
    (d) Priority.--In making grants under this section, the Secretary 
shall give priority to activities that will result in compliance with 
minimum energy efficiency standards, enhanced energy efficiency 
standards, and green building standards.
    (e) Application.--A nonprofit organization that desires a grant 
under this section shall submit to the Secretary an application at such 
time, in such manner, and containing such information as the Secretary 
may require.
    (f) Award of Contracts.--Any contract for architectural or 
engineering services that is funded with amounts from grants made under 
this section shall be awarded in accordance with chapter 11 of title 
40, United States Code (relating to selection of architects and 
engineers).
    (g) Federal Share.--
            (1) Amount of federal share.--The Federal share of the cost 
        of a project under this section may not exceed 50 percent.
            (2) Form of non-federal share.--The non-Federal share of 
        the cost of a project under this section may be in cash or in-
        kind.
    (h) Authorization of Appropriations.--There are authorized to be 
appropriated to the Secretary such sums as may be necessary to carry 
out this section.

SEC. 21. INSURANCE COVERAGE FOR LOANS FOR FINANCING OF RENEWABLE ENERGY 
              SYSTEMS LEASED FOR RESIDENTIAL USE.

    (a) Purposes.--The purposes of this section are--
            (1) to encourage residential use of renewable energy 
        systems by minimizing upfront costs and providing immediate 
        utility cost savings to consumers through leasing of such 
        systems to homeowners;
            (2) to reduce carbon emissions and the use of nonrenewable 
        resources;
            (3) to encourage energy efficient residential construction 
        and rehabilitation;
            (4) to encourage the use of renewable resources by 
        homeowners;
            (5) to minimize the impact of development on the 
        environment;
            (6) to reduce consumer utility costs; and
            (7) to encourage private investment in the green economy.
    (b) Definitions.--As used in this section, the following 
definitions shall apply:
            (1) Authorized renewable energy lender.--The term 
        ``authorized renewable energy lender'' means a lender 
        authorized by the Secretary to make a loan under this section.
            (2) Renewable energy system lease.--The term ``renewable 
        system energy lease'' means an agreement between an authorized 
        renewable energy system owner and a homeowner for a term of not 
        less than 5 years, pursuant to which the homeowner--
                    (A) grants an easement to such renewable energy 
                system owner to install, maintain, use, and otherwise 
                access the renewable energy system; and
                    (B) agrees to--
                            (i) lease the use of such system from such 
                        renewable energy system owner; or
                            (ii) purchase electric power from such 
                        renewable energy system owner.
            (3) Renewable energy manufacturer.--The term ``renewable 
        energy manufacturer'' means a manufacturer of renewable energy 
        systems.
            (4) Renewable energy system owner.--The term ``renewable 
        energy system owner'' means a homebuilder, a manufacturer or 
        installer of a renewable energy system, or any other person, as 
        determined by the Secretary.
            (5) Renewable energy system.--The term ``renewable energy 
        system'' means a system of energy derived from--
                    (A) a wind, solar (including photovoltaic and solar 
                thermal), biomass (including biodiesel), or geothermal 
                source; or
                    (B) hydrogen derived from biomass or water using an 
                energy source described in subparagraph (A).
    (c) Authority.--
            (1) In general.--The Secretary may, upon application by an 
        authorized renewable energy system owner, insure or make a 
        commitment to insure a loan made by an authorized renewable 
        energy lender to a renewable energy system owner to finance the 
        acquisition of a renewable energy system for lease to a 
        homeowner for use at the residence of such homeowner.
            (2) Terms and conditions.--The Secretary may prescribe such 
        terms and conditions for insurance under paragraph (1) as are 
        consistent with the purposes of this section.
    (d) Limitation on Principal Amount.--
            (1) Limitation.--The principal amount of a loan insured 
        under this section shall not exceed the residual value of the 
        renewable energy system to be acquired with the loan.
            (2) Residual value.--For purposes of this subsection--
                    (A) the residual value of a renewable energy system 
                is the fair market value of the future revenue stream 
                from the sale of the expected remaining electricity 
                production from the system, pursuant to the easement 
                granted in accordance with subsection (e); and
                    (B) the fair market value of the future revenue 
                stream for each year of the remaining life of the 
                renewable energy system shall be determined based on 
                the net present value of the power output production 
                warranty for such renewable energy system provided by 
                the renewable energy manufacturer and the forecast of 
                regional residential electricity prices made by the 
                Energy Information Administration of the Department of 
                Energy.
    (e) Easement.--The Secretary may not insure a loan under this 
section unless the renewable energy system owner certifies, in 
accordance with such requirements as the Secretary shall establish, 
consistent with the purposes of this section, that the systems financed 
will be leased only to homeowners that grant easements to install, 
maintain, use, and otherwise access the system that include the right 
to sell electricity produced during the life of the renewable energy 
system to a wholesale or retail electrical power grid.
    (f) Discount or Prepayment.--To encourage the use of renewable 
energy systems, the Secretary shall ensure that a discount given to a 
homeowner by a renewable energy system owner or other investor or 
prepayment of a renewable energy system lease by a renewable energy 
system owner does not adversely affect the mortgage requirements of 
such homeowner.
    (g) Eligibility of Lenders.--The Secretary may not insure a loan 
under this section unless the lender making the loan--
            (1) is an institution that--
                    (A) qualifies as a green banking center under 
                section 8(x) of the Federal Deposit Insurance Act (12 
                U.S.C. 1818(x)) or section 206(x) of the Federal Credit 
                Union Act (12 U.S.C. 1786(x)); or
                    (B) meets such other requirements as the Secretary 
                shall establish for participation of renewable energy 
                lenders in the program under this section; and
            (2) meets such qualifications as the Secretary shall 
        establish for all lenders for participation in the program 
        under this section.
    (h) Certificate of Insurance.--
            (1) In general.--The Secretary shall issue to a lender that 
        is insured under this section a certificate that serves as 
        evidence of insurance coverage under this section.
            (2) Contents of certificate.--The certificate required 
        under paragraph (1) shall set forth the fair market value of 
        the future revenue stream for each year of the remaining life 
        of the renewable energy system.
            (3) Full faith and credit.--The certificate required under 
        paragraph (1) shall be backed by the full faith and credit of 
        the United States.
    (i) Payment of Insurance Claim.--
            (1) Filing of claim.--The Secretary shall provide for the 
        filing of claims for insurance under this section and the 
        payment of such claims.
            (2) Payment of claim.--A claim under paragraph (1) may be 
        paid only upon a default under the loan insured under this 
        section and the assignment, transfer, and delivery to the 
        Secretary of--
                    (A) all rights and interests arising under the 
                loan; and
                    (B) all claims of the lender or the assigns of the 
                lender against the borrower or others arising under the 
                loan transaction.
            (3) Lien.--
                    (A) In general.--Upon payment of a claim for 
                insurance of a loan under this section, the Secretary 
                shall hold a lien on the underlying renewable energy 
                system assets and any associated revenue stream from 
                the use of such system, which shall be superior to all 
                other liens on such assets.
                    (B) Residual value.--The residual value of such 
                renewable energy system and the revenue stream from the 
                use of such system shall be not less than the unpaid 
                balance of the loan amount covered by the certificate 
                of insurance.
                    (C) Revenue from sale.--The Secretary shall be 
                entitled to any revenue generated by such renewable 
                energy system from selling electricity to the grid when 
                an insurance claim has been paid out.
    (j) Assignment and Transferability of Insurance.--A renewable 
energy system owner or an authorized renewable energy lender that is 
insured under this section may assign or transfer the insurance in 
whole or in part, to another owner or lender, subject to such 
requirements as the Secretary may prescribe.
    (k) Premiums and Charges.--
            (1) Insurance premiums.--
                    (A) In general.--The Secretary shall fix and 
                collect premiums for insurance of loans under this 
                section, that shall be paid by the applicant renewable 
                energy system owner at the time of issuance of the 
                certificate of insurance to the lender and shall be 
                adequate, in the determination of the Secretary, to 
                cover the expenses and probable losses of administering 
                the program under this section.
                    (B) Deposit of premium.--The Secretary shall 
                deposit any premiums collected under this subsection in 
                the Renewable Energy Lease Insurance Fund established 
                under subsection (l).
            (2) Prohibition on other charges.--Except as provided in 
        paragraph (1), the Secretary may not assess any other fee 
        (including a user fee), insurance premium, or charge in 
        connection with loan insurance provided under this section.
    (l) Renewable Energy Lease Insurance Fund.--
            (1) Fund established.--There is established in the Treasury 
        of the United States the Renewable Energy Lease Insurance Fund 
        (referred to in this subsection as the ``Fund''), which shall 
        be available to the Secretary without fiscal year limitation, 
        for the purpose of providing insurance under this section.
            (2) Credits.--The Fund shall be credited with any premiums 
        collected under subsection (k)(1), any amounts collected by the 
        Secretary under subsection (i)(3), and any associated interest 
        or earnings.
            (3) Availability.--Amounts in the Fund shall be available 
        to the Secretary for fulfilling any obligations with respect to 
        insurance for loans provided under this section and paying 
        administrative expenses in connection with this section.
            (4) Excess amounts.--The Secretary may invest in 
        obligations of the United States any amounts in the Fund 
        determined by the Secretary to be in excess of amounts required 
        at the time of such determination to carry out this section.
    (m) Regulations.--
            (1) In general.--The Secretary shall issue such regulations 
        as may be necessary to carry out this section.
            (2) Timing.--Not later than 180 days after the date of 
        enactment of this Act, the Secretary shall issue interim or 
        final regulations.
    (n) Ineligibility for Purchase by Federal Financing Bank.--
Notwithstanding any other provision of law, no debt obligation that is 
insured or committed to be insured by the Secretary under this section 
shall be subject to the Federal Financing Bank Act of 1973 (12 U.S.C. 
2281 et seq.).
    (o) Termination of Authority.--The authority of the Secretary to 
insure and make commitments to insure new loans under this Act shall 
terminate 10 years after the date of enactment of this Act.

SEC. 22. GREEN BANKING CENTERS.

    (a) Insured Depository Institutions.--Section 8 of the Federal 
Deposit Insurance Act (12 U.S.C. 1818) is amended by adding at the end 
the following:
    ``(x) Green Banking Centers.--
            ``(1) In general.--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 a 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 referrals.--The 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) Insured Credit Unions.--Section 206 of the Federal Credit Union 
Act (12 U.S.C. 1786) is amended by adding at the end the following:
    ``(x) Green Banking Centers.--
            ``(1) In general.--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 a 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 referrals.--The 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 personnel, 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;
                    ``(G) information about incentives or financial 
                products that are available for projects that are 
                consistent with or certified under minimum energy 
                efficiency standards, enhanced efficiency standards, or 
                green building standards, as those terms are defined in 
                section 3 of the Energy Efficiency in Housing Act of 
                2009; and
                    ``(H) such other information as the Board or the 
                insured credit union may determine to be appropriate or 
                useful.''.

SEC. 23. GAO REPORTS ON AVAILABILITY OF AFFORDABLE MORTGAGES.

    (a) Study.--The Comptroller General of the United States shall 
periodically, as necessary to comply with subsection (b), examine the 
impact of this Act and the amendments made by this Act on the 
availability of affordable mortgages in various areas throughout the 
United States, including cities having older infrastructure and limited 
space for the development of new housing.
    (b) Triennial Reports.--
            (1) Report required.--The Comptroller General shall submit 
        a report once every 3 years to the Committee on Banking, 
        Housing, and Urban Affairs of the Senate and the Committee on 
        Financial Services of the House of Representatives.
            (2) Contents of report.--The report under paragraph (1) 
        shall include--
                    (A) a detailed statement of the most recent 
                findings pursuant to subsection (a); and
                    (B) if the Comptroller General finds that this Act 
                or the amendments made by this Act have directly or 
                indirectly resulted in consequences that limit the 
                availability or affordability of mortgages in any area 
                or areas within the United States, including any city 
                having older infrastructure and limited space for the 
                development of new housing, any recommendations for any 
                additional actions at the Federal, State, or local 
                levels that the Comptroller General considers necessary 
                or appropriate to mitigate such effects.
            (3) Timing.--The first report under paragraph (1) shall be 
        submitted not later than 3 years after the date of enactment of 
        this Act.

SEC. 24. PUBLIC HOUSING ENERGY COST REPORT.

    (a) Collection of Information by HUD.--
            (1) In general.--The Secretary shall obtain from each 
        public housing agency, at such time as may be necessary to 
        comply with the reporting requirement under subsection (b), 
        information regarding the energy costs for public housing 
        administered or operated by the agency.
            (2) Type of information.--For each public housing agency, 
        such information shall include the monthly energy costs 
        associated with each separate building and development of the 
        agency, for the most recently completed 12-month period for 
        which such information is available, and such other information 
        as the Secretary determines is appropriate in determining which 
        public housing buildings and developments are most in need of 
        repairs and improvements to reduce energy needs and costs and 
        become more energy efficient.
    (b) Report.--Not later than 12 months after the date of enactment 
of this Act, the Secretary shall submit to Congress a report setting 
forth the information collected pursuant to subsection (a).
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