[StBernard] Committee Approves Legislation to Promote Going Green to Save Green

[Westley Annis]

April 22, 2010                                                   

 

Committee Approves Legislation to Promote Going Green to Save Green

GREEN Act Creates Jobs, Gives Real Savings, Real Investment by Promoting
Energy Efficiency Homes

 

Washington, DC - Today, to mark Earth Day, the House Financial Services
Committee approved H.R. 2336, the GREEN Act (Green Resources for Energy
Efficient Neighborhoods), by a voice vote. The bipartisan legislation,
authored by Reps. Ed Perlmutter (D-CO) and Judy Biggert (R-IL), provides
incentives to lenders and financial institutions which will help move our
housing and building stock towards greater energy efficiency, create jobs
and make places to live and work more sustainable and affordable. 

 

"In order to save green, we must go green.  The GREEN Act will save our
country money, help revitalize our economy by making energy efficiency
practices more affordable, accessible and achievable by consumers,
businesses and government entities," said Perlmutter. "By prioritizing
energy efficiency practices, we can ease the woes of homeowners, lenders,
financial markets, builders and our environment. This bill is good for
energy efficiency, good for jobs and good for the economy.

 

"The GREEN Act will forge a new path for achieving energy and cost savings
in our nation's buildings, homes, and offices," said Biggert, co-chair of
the Congressional High-Performance Building Caucus.  "It utilizes creative
financing mechanisms, demonstrations, and incentives to promote the use of
the latest in sustainable building designs and technologies.  At the same
time, it places a premium on energy efficient construction and upgrades that
will revitalize investment in the green jobs of tomorrow.  Speeding these
technologies out of the lab and into our nation's building supply will pay
dividends for years to come for homeowners, the economy, and for the
environment."

 

The American Institute of Architects published a report
<http://www.aia.org/advocacy/federal/AIAB082795>  on the potential job
creation from this bill and found that the GREEN Act could create or save as
many as 140,000 jobs in the building design and construction industry every
year. 

 

In 2008, the bipartisan GREEN Act passed the full House of Representatives
as part of the Comprehensive Energy Security and Consumer Protection Act.
In 2009, the bill passed the full House of Representatives as part of H.R.
2454 - American Clean Energy & Security Act (ACES).  

 

Today, Perlmutter and Biggert made some consensus changes to the bipartisan
bill, and it now will go to the full House of Representatives for a vote.
Perlmutter and Biggert's bill has broad support from consumers, realtors,
environmental and business groups, financial institutions, home builders and
developers.

 

Key Provisions in the Bill Include:

 

*	Provides incentives for new and existing structures financed by HUD
to meet or exceed the minimum energy efficiency standards established in the
bill. 

 

*	Directs HUD to establish a four-year, 50,000-unit demonstration
program to highlight the cost effectiveness of funding a portion of the
costs of meeting the enhanced HUD energy efficiency standards.  In addition,
the Federal Housing Authority (FHA) is encouraged to insure at least 50,000
energy efficient mortgages by December 31, 2012.  As FHA begins seeking
these types of mortgages, a market will emerge among homebuilders, home
owners and lenders seeking to acquire federal insurance on mortgage
products. 
*	Provides resources to the non-profit and for-profit community
organizations to extend the availability of energy efficient products for
existing homes. 

 

*	Establishes a residential energy efficiency block grant program,
according to established formulas under the community development block
grant program, to distribute grants for the sole purpose of improving the
energy-efficiency of single-family or multi-family housing, with preference
given to projects that meet the efficiency standards highlighted in section
5(b) of the reported bill. 

 

*	Partnerships are created with the Secretary and planting
organizations to promote energy efficient location of buildings and utilize
landscape architecture, including strategically planted trees, shrubs and
grass, aimed at improving energy efficiency and sustainability. 

 

*	Requires HUD to insure certain loans made by qualified energy
lenders to finance the acquisition of renewable energy systems for use at
residential properties.  This provision will improve the accessibility of
leased renewable energy systems for home dwellers. 

 

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