,,ii #aacth ,,congress #ast ,session ,s4 #abjj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #bj1 #bjac ,mr4 ,sanders 7for himself and ,mr4 ,wyden7 introduced the following bill2 which was read twice and referred to the ,committee on ,energy and ,natural ,resources ,a ,,bill ,to amend the ,energy ,policy and ,conservation ,act to promote energy efficiency and energy savings in residential buildings4 #a4 ,short title ,this ,act may be cited as the ,residential ,energy ,savings ,act of #bjac4 #b4 ,state residential building energy efficiency upgrades loan pilot program 7a7 ,loans for residential building energy efficiency upgrades ,part ,d of title ,,iii of the ,energy ,policy and ,conservation ,act 7#db ,u4,s4,c4 #fcba et seq47 is amended by adding at the end the following3 #cfg4 ,loans for residential building energy efficiency upgrades 7a7 ,definitions ,in this section3 7#a7 ,consumer-friendly loan repayment approach ,the term consumer-friendly loan repayment approach means a loan repayment method that-- 7,a7 emphasizes convenience for customers2 7,b7 is of low cost to consumers2 and 7,c7 may tie loan repayment to an existing bill of the consumer4 7#b7 ,eligible entity ,the term eligible entity means-- 7,a7 a ,state or territory of the ,united ,states2 and 7,b7 an ,indian tribal government4 7#c7 ,energy advisor program 7,a7 ,in general ,the term energy advisor program means any program to provide to homeowners or residents advice1 information1 and support in the identification1 prioritization1 and implementation of energy efficiency and energy savings measures4 7,b7 ,inclusions ,the term energy advisor program includes a program that provides-- 7i7 interpretation of energy audit reports2 7ii7 assistance in the prioritization of improvements2 7iii7 assistance in finding qualified contractors2 7iv7 assistance in contractor bid reviews2 7v7 education on energy conservation1 renewable energy1 and energy efficiency2 7vi7 explanations of available incentives and tax credits2 7vii7 assistance in completion of rebate and incentive paperwork2 and 7viii7 any other similar type of support4 7#d7 ,energy efficiency ,the term energy efficiency means a reduction in energy use1 including thermal energy for heating4 7#e7 ,energy efficiency upgrade 7,a7 ,in general ,the term energy efficiency upgrade means any project or activity carried out on a residential building to increase energy efficiency4 7,b7 ,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 activity4 7#f7 ,residential building 7,a7 ,in general ,the term residential building means a building used for residential purposes4 7,b7 ,inclusions ,the term residential building includes-- 7i7 a single-family residence2 7ii7 a multifamily residence composed not more than #d units2 and 7iii7 a mixed-use building that includes not more than #d residential units4 7b7 ,establishment of program 7#a7 ,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 buildings4 7#b7 ,no requirement to participate ,no eligible entity shall be required to participate in any manner in the program established under paragraph 7#a74 7c7 ,applications 7#a7 ,in general ,to be eligible to receive a loan under this section1 an eligible entity shall submit to the ,secretary an application at such time1 in such manner1 and containing such information as the ,secretary may require4 7#b7 ,selection ,in selecting eligible entities to receive loans under this section1 the ,secretary shall-- 7,a7 to the maximum extent practicable1 ensure-- 7i7 that both innovative and established approaches to the challenges of financing energy efficiency upgrades are supported2 7ii7 regional diversity among recipients1 including participation by rural ,states and small ,states2 and 7iii7 significant participation by low- and medium-income families2 7,b7 evaluate applications based primarily on-- 7i7 the projected reduction in energy use2 7ii7 the extent to which ,federal funds are used to leverage additional funding from ,state1 local1 philanthropic1 private sector1 and other sources2 7iii7 the creditworthiness of the eligible entity2 and 7iv7 the incorporation of measures1 such as on-bill repayment1 for making the loan repayment system for recipients of financing as consumer-friendly as practicable2 and 7,c7 evaluate applications based secondarily on-- 7i7 the extent to which the proposed financing program of the eligible entity incorporates best practices for such a program1 as determined by the ,secretary2 7ii7 whether the eligible entity has created a plan for evaluating the effectiveness of the proposed financing program2 7iii7 the extent to which the proposed financing program incorporates energy advisor programs and support programs designed to increase the effectiveness of the program2 7iv7 the projected quantity of renewable energy to be generated1 to the extent that renewable energy generation will be included2 7v7 the extent to which the proposed financing program will be coordinated and marketed with other existing or planned energy efficiency programs administered by-- 7,i7 utilities2 7,,ii7 ,state1 tribal1 territorial1 or local governments2 or 7,,iii7 community development financial institutions2 and 7vi7 such other factors as the ,secretary determines to be appropriate4 7d7 ,term2 interest 7#a7 ,in general ,the ,secretary shall establish terms and interest rates for loans provided to eligible entities under this section in a manner that-- 7,a7 provides for a high degree of cost recovery2 and 7,b7 ensures that the loans are competitive with1 or superior to1 other forms of financing for similar purposes4 7#b7 ,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 section1 based on performance as evaluated in accordance with the factors described in subparagraphs 7,b7 and 7,c7 of subsection 7c77#b74 7e7 ,use of funds 7#a7 ,in general ,an eligible entity shall use a loan provided under this section to establish or expand a financing program-- 7,a7 the purpose of which is to enable residential building owners or tenants to conduct energy efficiency upgrades of residential buildings2 7,b7 that may not require any initial capital1 excluding fees2 and 7,c7 that incorporates a consumer-friendly loan repayment approach4 7#b7 ,structure of financing program ,the financing program of an eligible entity may-- 7,a7 consist-- 7i7 primarily or entirely of a financing program administered by-- 7,i7 the applicable ,state2 or 7,,ii7 a local government1 utility1 or other entity2 or 7ii7 of a combination of programs described in clause 7i72 and 7,b7 rely on financing provided by-- 7i7 the eligible entity2 or 7ii7 a third party1 acting through the eligible entity4 7#c7 ,form of assistance ,assistance provided by an eligible entity under this subsection may be in the form of-- 7,a7 a revolving loan fund2 7,b7 a credit enhancement structure designed to mitigate the effects of default2 or 7,c7 a program that-- 7i7 adopts any other approach for providing financing for energy efficiency upgrades producing significant energy efficiency gains2 7ii7 produces a high-leverage ratio of non-,federal funds2 and 7iii7 incorporates measures for making the loan repayment system for recipients of financing as consumer-friendly as practicable4 7#d7 ,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 upgrade1 including materials and labor4 7f7 ,repayment ,an eligible entity shall repay to the ,secretary the amount of a loan provided under this section1 together with-- 7#a7 interest accrued on that amount2 and 7#b7 such fees as the ,secretary determines to be necessary to recover any portion of the costs of the program under this section4 7g7 ,reports 7#a7 ,eligible entities 7,a7 ,in general ,not later than #b years after the date of receipt of the loan1 and annually thereafter for the term of the loan1 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 loan1 including anonymized loan performance data4 7,b7 ,requirements ,the ,secretary1 in consultation with eligible entities and other stakeholders 7such as lending institutions and the real estate industry71 shall establish such requirements for the reports under this paragraph as the ,secretary determines to be appropriate-- 7i7 to ensure that the reports are clear1 consistent1 and straightforward2 and 7ii7 taking into account the reporting requirements for similar programs in which the eligible entities are participating1 if any4 7#b7 ,secretary ,the ,secretary shall submit to ,congress and make available to the public-- 7,a7 not less frequently than once each year1 a report describing the performance of the program under this section1 including a synthesis and analysis of the information provided in the reports submitted to the ,secretary under paragraph 7#a77;,a72 and 7,b7 on termination of the program under this section1 an assessment of the success of1 and education provided by1 the measures carried out by eligible entities during the term of the program4 7h7 ,maximum amount ,the ,secretary may provide to eligible entities a total of not more than #b1jjj1jjj1jjj in loans under this section for the costs of activities described in subsection 7e74 4 7b7 ,reorganization 7#a7 ,in general ,part ,d of title ,,iii of the ,energy ,policy and ,conservation ,act 7#db ,u4,s4,c4 #fcba et seq47 is amended-- 7,a7 by redesignating sections #cfb1 #cfc1 #cfd1 #cfe1 and #cff as sections #cfd1 #cfe1 #cff1 #cfc1 and #cfb1 respectively1 and moving the sections so as to appear in numerical order2 7,b7 in section #cfb 7as so redesignated7-- 7i7 in paragraph 7#c77;,b77i71 by striking section #cfg1 and and inserting section #cfg 7as in effect on the day before the date of enactment of the ,state ,energy ,efficiency ,programs ,improvement ,act of #aiij 7#db ,u4,s4,c4 #fbja note2 ,public ,law #aja-ddj772 and2 and 7ii7 in each of paragraphs 7#d7 and 7#f71 by striking section #cfe7;e77#a7 each place it appears and inserting section #cfc7;e77#a72 7,c7 in section #cfc 7as so redesignated7-- 7i7 in subsection 7b71 by striking the provisions of sections #cfb and #cfd and subsection 7a7 of section #cfc and inserting sections #cfd1 #cfe7;a71 and #cff2 and 7ii7 in subsection 7g77#a77;,a71 in the second sentence1 by striking section #cfb and inserting section #cfd2 and 7,d7 in section #cfe 7as so redesignated7-- 7i7 in subsection 7a7-- 7,i7 in paragraph 7#a71 by striking section #cfb1 and inserting section #cfd22 and 7,,ii7 in paragraph 7#b71 by striking section #cfb7;b7 or 7e7 and inserting subsection 7b7 or 7e7 of section #cfd2 and 7ii7 in subsection 7b77#b71 in the matter preceding subparagraph 7,a71 by striking section #cfb7;b7 or 7e7 and inserting subsection 7b7 or 7e7 of section #cfd4 7#b7 ,conforming amendments ,section #cia of the ,energy ,policy and ,conservation ,act 7#db ,u4,s4,c4 #fcga7 is amended-- 7,a7 in paragraph 7#b77,m71 by striking section #cfe7;e77#b7 and inserting section #cfc7;e77#b72 and 7,b7 in paragraph 7#aj71 by striking section #cfb of this ,act and inserting section #cfd4 7#c7 ,clerical amendment ,the table of contents of the ,energy ,policy and ,conservation ,act 7#db ,u4,s4,c4 #fbja note2 ,public ,law #id-afc7 is amended by striking the items relating to part ,d of title ,,iii and inserting the following3 ,part ,d--,state energy conservation programs ,sec4 #cfa4 ,findings and purpose4 ,sec4 #cfb4 ,definitions4 ,sec4 #cfc4 ,general provisions4 ,sec4 #cfd4 ,state energy conservation plans4 ,sec4 #cfe4 ,federal assistance to ,states4 ,sec4 #cff4 ,state energy efficiency goals4 ,sec4 #cfg4 ,loans for residential building energy efficiency upgrades4 4 #c4 ,funding 7a7 ,budgetary effects ,the budgetary effects of this ,act1 for the purpose of complying with the ,statutory ,pay-,as-,you-,go ,act of #bjaj1 shall be determined by reference to the latest statement titled ,budgetary ,effects of ,,paygo ,legislation for this ,act1 submitted for printing in the ,congressional ,record by the ,chairman of the ,senate ,budget ,committee1 provided that such statement has been submitted prior to the vote on passage4 7b7 ,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 ,acts4