To require energy audits to be conducted for any single-family and multifamily housing purchased using federally related housing loans, and for other purposes.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Home Energy Loss Prevention Act''.

SEC. 2. ENERGY AUDIT REQUIREMENT FOR SINGLE-FAMILY AND MULTIFAMILY 
              HOUSING PURCHASED USING A FEDERALLY RELATED HOUSING LOAN.

    (a) Requirements.--Except as provided in subsection (d) and section 
3, a seller of single-family or multifamily housing that will be 
purchased with the assistance of a federally related housing loan may 
not sell such housing, unless--
            (1) not less than 5 years before the time of sale of the 
        housing, an energy audit meeting the requirements of subsection 
        (b) is conducted with respect to such housing;
            (2) the seller provides the purchaser a copy of the results 
        of the energy audit referred to in paragraph (1); and
            (3) the results of the energy audit referred to in 
        paragraph (1) are submitted to the Secretary of Housing and 
        Urban Development.
    (b) Energy Audit.--An energy audit meets the requirements under 
this subsection only if--
            (1) the audit is conducted by a home energy auditor or 
        equivalent, as determined by the Secretary;
            (2) the results of the audit are recorded using energy 
        audit and disclosure forms prescribed by regulation by the 
        Secretary for single-family or multifamily housing, as 
        applicable; and
            (3) the results of the audit include--
                    (A) a standardized ratings score, based on a 
                scoring system approved by the Secretary, in 
                consultation with the Secretary of Energy, that allows 
                the energy efficiency of the housing to be compared to 
                the energy efficiency of similar housing, as determined 
                by the Secretary; and
                    (B) a prioritized list, based on cost-effectiveness 
                and energy savings, of potential energy efficiency 
                improvements for the housing.
    (c) Notice.--A person who accepts applications for federally 
related housing loans shall provide to each applicant for such a loan, 
at the time of such application, written notice of the following:
            (1) The requirements under subsection (a).
            (2) The exception under subsection (d) and exemption under 
        section 3.
            (3) That the Department of Housing and Urban Development 
        maintains, on an Internet website, a database containing copies 
        of the results of energy audits conducted pursuant to this Act.
            (4) That the applicant for the loan may obtain, from the 
        Department of Housing and Urban Development, copies of any 
        energy audits with respect to the housing for which the loan 
        application is made that have been submitted to such 
        Department.
    (d) Exception for New Energy Efficient Housing.--The requirements 
under this section shall not apply with respect to the seller of 
single-family housing or multifamily housing that will be purchased 
with the assistance of a federally related housing loan if such 
housing--
            (1) was constructed not more than 5 years before the time 
        of sale involving such loan; and
            (2) is--
                    (A) Energy Star qualified;
                    (B) certified under the Leadership in Energy and 
                Environmental Design (LEED) Green Building Rating 
                System of the United States Green Building Council; or
                    (C) certified under an equivalent certification 
                system approved by the Secretary, in consultation with 
                the Secretary of Energy.
    (e) Accessibility of Energy Audit Results.--
            (1) Local housing offices.--The Secretary shall coordinate 
        with appropriate local recorders of deeds (or other similar 
        local offices responsible for maintaining records of 
        residential real property interests and transactions) to 
        maintain copies of the results of energy audits conducted 
        pursuant to this Act on-file in conjunction with the deeds to 
        such housing.
            (2) HUD database.--The Secretary shall establish and 
        maintain a database containing copies of the results of energy 
        audits conducted pursuant to this Act and ensure such database 
        is accessible to the public on an Internet website.

SEC. 3. EXEMPTION.

    The Secretary may grant a seller an exemption from any requirement 
of this Act if the Secretary determines that such requirement would, 
due to circumstances unique to the single-family housing or multifamily 
housing that will be purchased with the assistance of a federally 
related housing loan and not based on a condition caused by actions of 
the seller, cause undue hardship for the seller. An exemption granted 
under this section shall be limited to the minimum change necessary to 
avoid undue hardship.

SEC. 4. CIVIL PENALTIES.

    In the case of any sale of single-family or multifamily housing 
involving a federally related housing loan in violation of section 2 of 
this Act, the Secretary shall assess a civil money penalty against the 
seller in an amount not to exceed 20 percent of the sale price of such 
housing for which such loan is made.

SEC. 5. HOME ENERGY LOSS PREVENTION FUND AND FEE.

    (a) Fee.--The Secretary shall assess persons that make federally 
related housing loans a fee for each such loan made, in an amount to be 
determined by the Secretary, but not more than necessary to pay costs 
incurred in carrying out the responsibilities of the Department of 
Housing and Urban Development under this Act. The Secretary shall 
collect and deposit such fees in the Home Energy Loss Prevention Fund 
established under subsection (b)(1) for use in accordance with this 
section.
    (b) Fund.--
            (1) Establishment.--There is established in the Treasury of 
        the United States a fund to be known as the ``Home Energy Loss 
        Prevention Fund'', consisting of--
                    (A) amounts collected as fees assessed under 
                subsection (a); and
                    (B) any interest earned on investment of amounts in 
                the Home Energy Loss Prevention Fund credited to the 
                Fund under paragraph (2)(B).
            (2) Investment of amounts.--
                    (A) In general.--The Secretary of the Treasury 
                shall invest such portion of the Home Energy Loss 
                Prevention Fund as is not, in the judgment of the 
                Secretary of the Treasury, required to meet current 
                withdrawals. Investments may be made only in interest-
                bearing obligations of the United States.
                    (B) Credits to fund.--The interest on, and the 
                proceeds from the sale or redemption of, any 
                obligations held in the Home Energy Loss Prevention 
                Fund shall be credited to the Fund.
            (3) Use of amounts in the fund.--To the extent provided in 
        advance in appropriations Acts, amounts in the Home Energy Loss 
        Prevention Fund shall be made available to the Secretary 
        without fiscal year limitation to carry out the 
        responsibilities of the Department of Housing and Urban 
        Development under this Act.

SEC. 6. REGULATIONS AND EFFECTIVE DATE.

    (a) Regulations.--Not later than one year after the date of 
enactment of this Act, the Secretary shall promulgate regulations to 
carry out this Act.
    (b) Effective Date.--The requirements under this Act shall take 
effect 6 months after the date regulations are promulgated pursuant to 
subsection (a).

SEC. 7. DEFINITIONS.

    In this Act:
            (1) Energy audit.--The term ``energy audit'' has the 
        meaning given such term in section 391(13) of the Energy Policy 
        and Conservation Act (42 U.S.C. 6371(13)).
            (2) Federally related housing loan.--The term ``federally 
        related housing loan'' means the following loans:
                    (A) Single-family housing loans.--A federally 
                related mortgage loan, as such term is defined in 
                paragraph (1) of section 3 of the Real Estate 
                Settlement Procedures Act of 1974 (12 U.S.C. 2602(1)).
                    (B) Multifamily housing loans.--A loan that is 
                described in paragraph (1) of section 3 of the Real 
                Estate Settlement Procedures Act of 1974 (12 U.S.C. 
                2602(1)), except that for purposes of subparagraph (A) 
                of such paragraph (1) shall be applied--
                            (i) by substituting ``(including 
                        condominium and cooperative projects)'' for 
                        ``(including individual units of condominiums 
                        and cooperatives)''; and
                            (ii) by substituting ``5 or more families'' 
                        for ``from one to four families''.
            (3) Home energy auditor.--The term ``home energy auditor'' 
        means a person who is certified by an agency approved by the 
        Secretary, in consultation with the Secretary of Energy, to 
        conduct energy audits for single-family housing or multifamily 
        housing, as applicable.
            (4) Multifamily housing.--The term ``multifamily housing'' 
        means any residential structure consisting of 5 or more 
        dwelling units.
            (5) Secretary.--The term ``Secretary'' means the Secretary 
        of Housing and Urban Development.
            (6) Single-family housing.--The term ``single-family 
        housing'' means any residential structure consisting of 1 to 4 
        dwelling units.
            (7) Time of sale.--The term ``time of sale'' means, with 
        respect to any single-family or multifamily housing for which a 
        federally related housing loan is made, the date of the 
        recording of a deed transferring legal title to real property 
        to implement the sale of property that involved such loan.

Summary: Home Energy Loss Prevention Act - Prohibits a seller of housing that will be purchased with the assistance of a federally related housing loan from selling such housing, unless: (1) no less than five years before the sale of such housing, an energy audit is conducted; (2) the seller provides the purchaser a copy of audit results; and (3) such results are submitted to the Secretary of Housing and Urban Development (HUD).

Requires such audits to be conducted by a home energy auditor or equivalent. Requires such audit results to be recorded using energy audit and disclosure forms prescribed by the Secretary and to include: (1) a standardized ratings score that allows the housing's energy efficiency to be compared to the energy efficiency of similar housing; and (2) a prioritized list, based on cost-effectiveness and energy savings, of potential energy efficiency improvements.

Establishes notice requirements for persons who accept such loans.

Exempts from such requirements the seller of housing that: (1) was constructed no more than five years before the time of sale; and (2) is Energy Star qualified or certified under the Leadership in Energy and Environmental Design (LEED) Green Building Rating System of the United States Green Building Council or an equivalent certification system approved by the Secretary.

Requires the Secretary to maintain an online, publicly accessible database containing copies of audit results.

Authorizes the Secretary to grant a seller an exemption from any requirement of this Act that would cause the seller undue hardship due to circumstances unique to the housing and not based on a condition caused by the seller's actions. 

Requires the Secretary to assess persons that make federally related housing loans a fee for each such loan made and to deposit such fees in the Home Energy Loss Prevention Fund (established by this Act), which shall be available to the Secretary to carry out HUD's responsibilities under this Act.