Teacher:In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Teacher: Now, understand the problem? Solve this instance: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Residential Energy Savings Act of
2013''.

SEC. 2. STATE RESIDENTIAL BUILDING ENERGY EFFICIENCY UPGRADES LOAN
PILOT PROGRAM.

(a) Loans for Residential Building Energy Efficiency Upgrades.--
Part D of title III of the Energy Policy and Conservation Act (42
U.S.C. 6321 et seq.) is amended by adding at the end the following:

''SEC. 367. LOANS FOR RESIDENTIAL BUILDING ENERGY EFFICIENCY UPGRADES.

''(a) Definitions.--In this section:
''(1) Consumer-friendly loan repayment approach.--The term
'consumer-friendly loan repayment approach' means a loan
repayment method that--
''(A) emphasizes convenience for customers;
''(B) is of low cost to consumers; and
''(C) may tie loan repayment to an existing bill of
the consumer.
''(2) Eligible entity.--The term 'eligible entity' means--
''(A) a State or territory of the United States;
and
''(B) an Indian tribal government.
''(3) Energy advisor program.--
''(A) In general.--The term 'energy advisor
program' means any program to provide to homeowners or
residents advice, information, and support in the
identification, prioritization, and implementation of
energy efficiency and energy savings measures.
''(B) Inclusions.--The term 'energy advisor
program' includes a program that provides--
''(i) interpretation of energy audit
reports;
''(ii) assistance in the prioritization of
improvements;
''(iii) assistance in finding qualified
contractors;
''(iv) assistance in contractor bid
reviews;
''(v) education on energy conservation,
renewable energy, and energy efficiency;
''(vi) explanations of available incentives
and tax credits;
''(vii) assistance in completion of rebate
and incentive paperwork; and
''(viii) any other similar type of support.
''(4) Energy efficiency.--The term 'energy efficiency'
means a reduction in energy use, including thermal energy for
heating.
''(5) Energy efficiency upgrade.--
''(A) In general.--The term 'energy efficiency
upgrade' means any project or activity carried out on a
residential building to increase energy efficiency.
''(B) Inclusions.--The term 'energy efficiency
upgrade' includes the installation or improvement of
renewable energy for heating or electricity generation
serving a residential building carried out in
conjunction with an energy efficiency project or
activity.
''(6) Residential building.--
''(A) In general.--The term 'residential building'
means a building used for residential purposes.
''(B) Inclusions.--The term 'residential building'
includes--
''(i) a single-family residence;
''(ii) a multifamily residence composed not
more than 4 units; and
''(iii) a mixed-use building that includes
not more than 4 residential units.
''(b) Establishment of Program.--
''(1) In general.--The Secretary shall establish a program
under this part under which the Secretary shall make available
to eligible entities loans for the purpose of establishing or
expanding programs that provide to residential property owners
or tenants financing for energy efficiency upgrades of
residential buildings.
''(2) No requirement to participate.--No eligible entity
shall be required to participate in any manner in the program
established under paragraph (1).
''(c) Applications.--
''(1) In general.--To be eligible to receive a loan under
this section, an eligible entity shall submit to the Secretary
an application at such time, in such manner, and containing
such information as the Secretary may require.
''(2) Selection.--In selecting eligible entities to receive
loans under this section, the Secretary shall--
''(A) to the maximum extent practicable, ensure--
''(i) that both innovative and established
approaches to the challenges of financing
energy efficiency upgrades are supported;
''(ii) regional diversity among recipients,
including participation by rural States and
small States; and
''(iii) significant participation by low-
and medium-income families;
''(B) evaluate applications based primarily on--
''(i) the projected reduction in energy
use;
''(ii) the extent to which Federal funds
are used to leverage additional funding from
State, local, philanthropic, private sector,
and other sources;
''(iii) the creditworthiness of the
eligible entity; and
''(iv) the incorporation of measures, such
as on-bill repayment, for making the loan
repayment system for recipients of financing as
consumer-friendly as practicable; and
''(C) evaluate applications based secondarily on--
''(i) the extent to which the proposed
financing program of the eligible entity
incorporates best practices for such a program,
as determined by the Secretary;
''(ii) whether the eligible entity has
created a plan for evaluating the effectiveness
of the proposed financing program;
''(iii) the extent to which the proposed
financing program incorporates energy advisor
programs and support programs designed to
increase the effectiveness of the program;
''(iv) the projected quantity of renewable
energy to be generated, to the extent that
renewable energy generation will be included;
''(v) the extent to which the proposed
financing program will be coordinated and
marketed with other existing or planned energy
efficiency programs administered by--
''(I) utilities;
''(II) State, tribal, territorial,
or local governments; or
''(III) community development
financial institutions; and
''(vi) such other factors as the Secretary
determines to be appropriate.
''(d) Term; Interest.--
''(1) In general.--The Secretary shall establish terms and
interest rates for loans provided to eligible entities under
this section in a manner that--
''(A) provides for a high degree of cost recovery;
and
''(B) ensures that the loans are competitive with,
or superior to, other forms of financing for similar
purposes.
''(2) Performance incentive.--The Secretary shall establish
a performance incentive providing a repayment discount for
eligible entities in an amount equal to not more than the value
of the interest accrued on the loan provided to the applicable
eligible entity under this section, based on performance as
evaluated in accordance with the factors described in
subparagraphs (B) and (C) of subsection (c)(2).
''(e) Use of Funds.--
''(1) In general.--An eligible entity shall use a loan
provided under this section to establish or expand a financing
program--
''(A) the purpose of which is to enable residential
building owners or tenants to conduct energy efficiency
upgrades of residential buildings;
''(B) that may not require any initial capital,
excluding fees; and
''(C) that incorporates a consumer-friendly loan
repayment approach.
''(2) Structure of financing program.--The financing
program of an eligible entity may--
''(A) consist--
''(i) primarily or entirely of a financing
program administered by--
''(I) the applicable State; or
''(II) a local government, utility,
or other entity; or
''(ii) of a combination of programs
described in clause (i); and
''(B) rely on financing provided by--
''(i) the eligible entity; or
''(ii) a third party, acting through the
eligible entity.
''(3) Form of assistance.--Assistance provided by an
eligible entity under this subsection may be in the form of--
''(A) a revolving loan fund;
''(B) a credit enhancement structure designed to
mitigate the effects of default; or
''(C) a program that--
''(i) adopts any other approach for
providing financing for energy efficiency
upgrades producing significant energy
efficiency gains;
''(ii) produces a high-leverage ratio of
non-Federal funds; and
''(iii) incorporates measures for making
the loan repayment system for recipients of
financing as consumer-friendly as practicable.
''(4) Scope of assistance.--Assistance provided by an
eligible entity under this subsection may be used to pay for
costs associated with carrying out an energy efficiency
upgrade, including materials and labor.
''(f) Repayment.--An eligible entity shall repay to the Secretary
the amount of a loan provided under this section, together with--
''(1) interest accrued on that amount; and
''(2) such fees as the Secretary determines to be necessary
to recover any portion of the costs of the program under this
section.
''(g) Reports.--
''(1) Eligible entities.--
''(A) In general.--Not later than 2 years after the
date of receipt of the loan, and annually thereafter
for the term of the loan, an eligible entity that
receives a loan under this section shall submit to the
Secretary a report describing the performance of each
program and activity carried out using the loan,
including anonymized loan performance data.
''(B) Requirements.--The Secretary, in consultation
with eligible entities and other stakeholders (such as
lending institutions and the real estate industry),
shall establish such requirements for the reports under
this paragraph as the Secretary determines to be
appropriate--
''(i) to ensure that the reports are clear,
consistent, and straightforward; and
''(ii) taking into account the reporting
requirements for similar programs in which the
eligible entities are participating, if any.
''(2) Secretary.--The Secretary shall submit to Congress
and make available to the public--
''(A) not less frequently than once each year, a
report describing the performance of the program under
this section, including a synthesis and analysis of the
information provided in the reports submitted to the
Secretary under paragraph (1)(A); and
''(B) on termination of the program under this
section, an assessment of the success of, and education
provided by, the measures carried out by eligible
entities during the term of the program.
''(h) Maximum Amount.--The Secretary may provide to eligible
entities a total of not more than $2,000,000,000 in loans under this
section for the costs of activities described in subsection (e).''.
(b) Reorganization.--
(1) In general.--Part D of title III of the Energy Policy
and Conservation Act (42 U.S.C. 6321 et seq.) is amended--
(A) by redesignating sections 362, 363, 364, 365,
and 366 as sections 364, 365, 366, 363, and 362,
respectively, and moving the sections so as to appear
in numerical order;
(B) in section 362 (as so redesignated)--
(i) in paragraph (3)(B)(i), by striking
''section 367, and'' and inserting ''section
367 (as in effect on the day before the date of
enactment of the State Energy Efficiency
Programs Improvement Act of 1990 (42 U.S.C.
6201 note; Public Law 101-440)); and''; and
(ii) in each of paragraphs (4) and (6), by
striking ''section 365(e)(1)'' each place it
appears and inserting ''section 363(e)(1)'';
(C) in section 363 (as so redesignated)--
(i) in subsection (b), by striking ''the
provisions of sections 362 and 364 and
subsection (a) of section 363'' and inserting
''sections 364, 365(a), and 366''; and
(ii) in subsection (g)(1)(A), in the second
sentence, by striking ''section 362'' and
inserting ''section 364''; and
(D) in section 365 (as so redesignated)--
(i) in subsection (a)--
(I) in paragraph (1), by striking
''section 362,'' and inserting
''section 364;''; and
(II) in paragraph (2), by striking
''section 362(b) or (e)'' and inserting
''subsection (b) or (e) of section
364''; and
(ii) in subsection (b)(2), in the matter
preceding subparagraph (A), by striking
''section 362(b) or (e)'' and inserting
''subsection (b) or (e) of section 364''.
(2) Conforming amendments.--Section 391 of the Energy
Policy and Conservation Act (42 U.S.C. 6371) is amended--
(A) in paragraph (2)(M), by striking ''section
365(e)(2)'' and inserting ''section 363(e)(2)''; and
(B) in paragraph (10), by striking ''section 362 of
this Act'' and inserting ''section 364''.
(3) Clerical amendment.--The table of contents of the
Energy Policy and Conservation Act (42 U.S.C. 6201 note; Public
Law 94-163) is amended by striking the items relating to part D
of title III and inserting the following:

''Part D--State Energy Conservation Programs

''Sec. 361. Findings and purpose.
''Sec. 362. Definitions.
''Sec. 363. General provisions.
''Sec. 364. State energy conservation plans.
''Sec. 365. Federal assistance to States.
''Sec. 366. State energy efficiency goals.
''Sec. 367. Loans for residential building energy efficiency
upgrades.''.

SEC. 3. FUNDING.

(a) Budgetary Effects.--The budgetary effects of this Act, for the
purpose of complying with the Statutory Pay-As-You-Go Act of 2010,
shall be determined by reference to the latest statement titled
''Budgetary Effects of PAYGO Legislation'' for this Act, submitted for
printing in the Congressional Record by the Chairman of the Senate
Budget Committee, provided that such statement has been submitted prior
to the vote on passage.
(b) Advance Appropriations Required.--An authorization of
appropriations under this Act or an amendment made by this Act shall be
effective for a fiscal year only to the extent and in the amounts
provided in advance in appropriations Acts.
Student:
Residential Energy Savings Act of 2013 - Amends the Energy Policy and Conservation Act to require the Secretary of Energy (DOE) to establish a voluntary loan program to provide support to states, U.S. territories, and Indian tribal governments (eligible entities) in establishing or expanding programs that provide to residential property owners or tenants financing for energy efficiency upgrades of residential buildings. Authorizes assistance provided by eligible entities to be in the form of a: (1) revolving loan fund; (2) credit enhancement structure designed to mitigate the effects of default; or (3) program that adopts other approaches for providing financing for upgrades producing significant energy efficiency gains, produces a high-leverage ratio of non-federal funds, and incorporates measures for making the loan repayment system for recipients of financing consumer-friendly. Requires the Secretary to establish a performance incentive providing a repayment discount in an amount equal to no more than the value of the interest accrued on the loan provided, based on performance as evaluated in accordance with specified factors. Makes an authorization of appropriations under this Act effective for a fiscal year only to the extent and in the amounts provided in advance in appropriations Acts.