to each eligible State and Indian tribe during the fis-
cal 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.—For purposes of 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-De-
termination 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. 24. 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 new sub-
section: 
‘‘(x) ‘GREEN BANKING’ CENTERS.— 
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‘‘(1) IN GENERAL.—The Federal banking agen-
cies shall prescribe guidelines encouraging the estab-
lishment and maintenance of ‘green banking’ centers 
by insured depository institutions to provide any 
consumer who seeks information on obtaining a 
mortgage, home improvement loan, home equity 
loan, or renewable energy lease with additional infor-
mation on— 
‘‘(A) obtaining an home energy rating or 
audit for the residence for which such mortgage 
or loan is sought; 
‘‘(B) obtaining financing for cost-effective 
energy-saving improvements to such property; 
and 
‘‘(C) obtaining beneficial terms for any 
mortgage or loan, or qualifying for a larger 
mortgage or loan, secured by a residence which 
meets or will meet energy efficiency standards. 
‘‘(2) INFORMATION AND REFERRALS.—The in-
formation made available to consumers under para-
graph (1) may include— 
‘‘(A) information on obtaining a home en-
ergy rating and contact information on quali-
fied energy raters in the area of the residence; 
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‘‘(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 compen-
sating factor; 
‘‘(C) information including eligibility infor-
mation 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 infor-
mation about, and contact information for, any 
conservation or renewable energy programs, 
grants, or loans offered for qualified military 
personal, reservists, and veterans by the Sec-
retary of Veterans Affairs; 
‘‘(E) information about, and contact infor-
mation for, the Office of Efficiency and Renew-
able Energy at the Department of Energy, in-
cluding the weatherization assistance program; 
‘‘(F) information about, and contact infor-
mation for, the Energy Star Program of the 
Environmental Protection Agency; 
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‘‘(G) information from, and contact infor-
mation 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 agen-
cies 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 new subsection: 
‘‘(x) ‘GREEN BANKING’ CENTERS.— 
‘‘(1) IN GENERAL.—The Board shall prescribe 
guidelines encouraging the establishment and main-
tenance of ‘green banking’ centers by insured credit 
unions to provide any member who seeks informa-
tion on obtaining a mortgage, home improvement 
loan, home equity loan, or renewable energy lease 
with additional information on— 
‘‘(A) obtaining an home energy rating or 
audit for the residence for which such mortgage 
or loan is sought; 
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‘‘(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 in-
formation made available to members under para-
graph (1) may include— 
‘‘(A) information on obtaining a home en-
ergy rating and contact information on quali-
fied 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 compen-
sating factor; 
‘‘(C) information including eligibility infor-
mation 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; 
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‘‘(D) information including eligibility infor-
mation about, and contact information for, any 
conservation or renewable energy programs, 
grants, or loans offered for qualified military 
personal, reservists, and veterans by the Sec-
retary of Veterans Affairs; 
‘‘(E) information about, and contact infor-
mation for, the Office of Efficiency and Renew-
able Energy at the Department of Energy, in-
cluding the weatherization assistance program; 
‘‘(F) information from, and contact infor-
mation for, the Federal Citizen Information 
Center of the General Services Administration 
on energy-efficient mortgages and loans, home 
energy rating systems, and the availability of 
energy-efficient mortgage information from a 
variety of Federal agencies; and 
‘‘(G) such other information as the Board 
or the insured credit union may determine to be 
appropriate or useful.’’. 
SEC. 25. GAO REPORTS ON AVAILABILITY OF AFFORDABLE 
MORTGAGES. 
(a) STUDY.—The Comptroller General of the United 
States shall periodically, as necessary to comply with sub-
section (b), examine the impact of this Act and the amend-
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ments 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.—The Comptroller General 
shall submit a report once every 3 years to the Committee 
on Financial Services of the House of Representatives and 
the Committee on Banking, Housing, and Urban Affairs 
of the Senate that shall include— 
(1) a detailed statement of the most recent 
findings pursuant to subsection (a); and 
(2) if the Comptroller General finds that this 
Act or the amendments made by this Act have di-
rectly or indirectly resulted in consequences that 
limit the availability or affordability of mortgages in 
any area or areas within the United States, includ-
ing any city having older infrastructure and limited 
space for the development of new housing, any rec-
ommendations for any additional actions at the Fed-
eral, State, or local levels that the Comptroller Gen-
eral considers necessary or appropriate to mitigate 
such effects. 
The first report under this subsection shall be submitted 
not later than the expiration of the 3-year period begin-
ning on the date of the enactment of this Act. 
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SEC. 26. PUBLIC HOUSING ENERGY COST REPORT. 
(a) COLLECTION OF INFORMATION BY HUD.—The 
Secretary of Housing and Urban Development shall obtain 
from each public housing agency, by 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. 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 the expiration of the 
12-month period beginning on the date of the enactment 
of this Act, the Secretary of Housing and Urban Develop-
ment shall submit a report to the Congress setting forth 
the information collected pursuant to subsection (a). 
SEC. 27. INSURANCE COVERAGE FOR LOANS FOR FINANC-
ING 
OF 
RENEWABLE 
ENERGY 
SYSTEMS 
LEASED FOR RESIDENTIAL USE. 
(a) PURPOSES.—The purposes of this section are— 
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(1) to encourage residential use of renewable 
energy systems by minimizing up-front costs and 
providing immediate utility cost savings to con-
sumers through leasing of such systems to home-
owners; 
(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) AUTHORITY.—The Secretary of Housing and 
Urban Development may, upon application by an author-
ized renewable energy lender and in accordance with such 
terms and conditions as the Secretary may prescribe, con-
sistent with the purposes of this section, make commit-
ments to insure, and insure, loans made by such lenders 
to homebuilders, renewable energy installers or manufac-
turers, public or private corporations or partnerships, as-
sociations, trusts, or other qualified persons or entities, 
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to finance the acquisition of renewable energy systems for 
lease to homeowners for use at their residences. 
(c) EFFECTIVE DATE
OF INSURANCE.—Insurance 
provided pursuant to this section for a loan shall become 
effective only upon the expiration of the 5-year period be-
ginning upon the original execution of a renewable energy 
system lease (as such term is defined in subsection (p)) 
for the renewable energy system. 
(d) LIMITATION ON PRINCIPAL AMOUNT.— 
(1) LIMITATION.—The principal amount of the 
loan insured under this section shall not exceed the 
residual value of the renewable energy system. 
(2) RESIDUAL VALUE.—For purposes of this 
subsection— 
(A) the residual value of a renewable en-
ergy system shall be the amount that is equal 
to 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 rev-
enue stream for each year of the remaining life 
of the renewable energy system shall be deter-
mined based on the net present value of the re-
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newable energy system manufacturer’s power 
output production warranty for the system and 
the forecast of regional residential electricity 
prices made by the Energy Information Admin-
istration of the Department of Energy. 
(e) EASEMENT
FOR SALE
OF REMAINING ELEC-
TRICITY.—The Secretary may not insure a loan for financ-
ing of renewable energy systems under this section unless 
the borrower under the loan ensures, in accordance with 
such requirements as the Secretary shall establish, con-
sistent with the purposes of this section, that the systems 
financed will be leased only to homeowners that grant 
easements sufficient to provide for the sale of remaining 
electricity production from the system to a wholesale or 
retail electrical power grid. 
(f) DISCOUNT OR PREPAYMENT.—To encourage utili-
zation of renewable energy systems, the Secretary shall en-
sure that a homebuilder’s or other investor’s discount or 
prepayment of a homeowner’s renewable energy system 
lease shall not adversely affect that homeowner’s mortgage 
requirements. 
(g) ELIGIBILITY OF LENDERS.—The Secretary may 
not insure a loan under this section unless the lender mak-
ing the loan— 
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