,i #aad? ,,congress #a/ ,session ,h4 ,r4 #biig ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #i1 #bjae ,mr4 ,ross 7= himself1 ,mr4 ,cleav]1 ,mr4 ,himes1 & ,mr4 ,delaney7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to au?orize ! ,secret>y ( ,h\s+ & ,urban ,developm5t to c>ry out a demon/ration program to ent] into budget-neutral1 p]=mance-bas$ contracts = en]gy & wat] cons]vation improvem5ts = multifamily resid5tial units4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,private ,inve/m5t 9 ,h\s+ ,act ( #bjae4 #b4 ,budget-neutral demon/ration program = en]gy & wat] cons]vation improvem5ts at multifamily resid5tial units 7a7 ,e/abli%m5t ,! ,secret>y ( ,h\s+ & ,urban ,developm5t 79 ?is section ref]r$ to z ! ,secret>y7 %all e/abli% a demon/ration program "u :i* ! ,secret>y may execute budget-neutral1 p]=mance-bas$ agreem5ts 9 fiscal ye>s #bjaf ?r\gh #bjai t result 9 a r$uction 9 en]gy or wat] co/s ) su* entities z ! ,secret>y det]m9es to be appropriate "u :i* ! entities %all c>ry out projects = en]gy or wat] cons]vation improvem5ts at n m ?an #bj1jjj resid5tial units 9 multifamily build+s p>ticipat+ 9-- 7#a7 ! project-bas$ r5tal assi/ance program "u section #h ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f71 o!r ?an assi/ance provid$ "u section #h7o7 ( t ,act2 7#b7 ! supportive h\s+ = ! eld]ly program "u section #bjb ( ! ,h\s+ ,act ( #aiei 7#ab ,u4,s4,c4 #agjaq72 or 7#c7 ! supportive h\s+ = p]sons ) disabilities program "u section #haa7;d77#b7 ( ! ,cran/on-,gonzalez ,national ,af=dable ,h\s+ ,act 7#db ,u4,s4,c4 #hjac7;d77#b774 7b7 ,requirem5ts 7#a7 ,paym5ts cont+5t on sav+s 7,a7 ,9 g5]al ,! ,secret>y %all provide to an entity a paym5t "u an agreem5t "u ?is section only dur+ applicable ye>s = :i* an en]gy or wat] co/ sav+s is a*iev$ ) respect to ! applicable multifamily portfolio ( prop]ties1 z det]m9$ by ! ,secret>y1 9 accordance ) subp>agraph 7,b74 7,b7 ,paym5t me?odology 7i7 ,9 g5]al ,ea* agreem5t "u ?is section %all include a pay-=-success provision t-- 7,i7 %all s]ve z a paym5t ?re%old = ! t]m ( ! agreem5t2 & 7,,ii7 requires t paym5ts %all be cont+5t on realiz$ co/ sav+s associat$ ) r$uc$ utility consumption 9 ! p>ticipat+ prop]ties4 7ii7 ,limitations ,a paym5t made by ! ,secret>y "u an agreem5t "u ?is section-- 7,i7 %all be cont+5t on docum5t$ utility sav+s2 & 7,,ii7 %all n exce$ ! utility sav+s a*iev$ by ! date ( ! paym5t1 & n previ\sly paid1 z a result ( ! improvem5ts made "u ! agreem5t4 7,c7 ,?ird-p>ty v]ification ,sav+s paym5ts made by ! ,secret>y "u ?is section %all be bas$ on a measurem5t & v]ification protocol t includes at lea/-- 7i7 e/abli%m5t ( a wea!r-normaliz$ & occupancy-normaliz$ utility consumption basel9e e/abli%$ pre-retr(it2 7ii7 annual ?ird-p>ty confirmation ( actual utility consumption & co/ = utilities2 7iii7 annual ?ird-p>ty validation ( ! t5ant utility all[ances 9 effect dur+ ! applicable ye> & vacancy rates = ea* unit type2 & 7iv7 annual ?ird-p>ty det]m9ation ( sav+s to ! ,secret>y4 ,an agreem5t "u ?is section ) an entity %all provide t ! entity %all cov] co/s associat$ ) ?ird-p>ty v]ification "u ?is subp>agraph4 7#b7 ,t]ms ( p]=mance-bas$ agreem5ts ,a p]=mance-bas$ agreem5t "u ?is section %all include-- 7,a7 ! p]iod t ! agreem5t w be 9 effect & dur+ :i* paym5ts may be made1 :i* may n be long] ?an #ab ye>s2 7,b7 ! p]=mance measures t w s]ve z paym5t ?re%olds dur+ ! t]m ( ! agreem5t2 7,c7 an audit protocol = ! prop]ties cov]$ by ! agreem5t2 7,d7 a requirem5t t paym5ts %all be cont+5t on realiz$ co/ sav+s associat$ ) r$uc$ utility consumption 9 ! p>ticipat+ prop]ties2 & 7,e7 su* o!r requirem5ts & t]ms z det]m9$ to be appropriate by ! ,secret>y4 7#c7 ,entity eligibility ,! ,secret>y %all-- 7,a7 e/abli% a competitive process = ent]+ into agreem5ts "u ?is section2 & 7,b7 ent] into su* agreem5ts only ) entities t1 ei!r jo9tly or individually1 demon/rate significant exp]i5ce relat+ to-- 7i7 f9anc+ or op]at+ prop]ties receiv+ assi/ance "u a program id5tifi$ 9 subsection 7a72 7ii7 ov]sight ( en]gy or wat] cons]vation programs1 includ+ ov]sight ( contractors2 & 7iii7 rais+ capital = en]gy or wat] cons]vation improvem5ts f *>itable organizations or private inve/ors4 7#d7 ,geographical div]sity ,ea* agreem5t ent]$ into "u ?is section %all provide = ! inclusion ( prop]ties ) ! greate/ feasible regional & ,/ate v>iance4 7#e7 ,prop]ties ,a prop]ty may only be includ$ 9 ! demon/ration "u ?is section only if ! prop]ty is subject to af=dability re/rictions = at lea/ #ae ye>s aft] ! date ( ! completion ( any cons]vation improvem5ts made to ! prop]ty "u ! demon/ration program4 ,su* re/rictions may be made ?r\gh an ext5d$ af=dability agreem5t = ! prop]ty "u a new h\s+ assi/ance paym5ts contract ) ! ,secret>y ( ,h\s+ & ,urban ,developm5t or ?r\gh an en=ceable cov5ant ) ! own] ( ! prop]ty4 7c7 ,plan & reports 7#a7 ,plan ,n lat] ?an #ij days aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y %all submit to ! ,committees on ,appropriations & ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committees on ,appropriations & ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate a detail$ plan = ! implem5tation ( ?is section4 7#b7 ,reports ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 & annually !reaft]1 ! ,secret>y %all-- 7,a7 conduct an evaluation ( ! program "u ?is section2 & 7,b7 submit to ,congress a report describ+ ea* evaluation conduct$ "u subp>agraph 7,a74 7d7 ,fund+ ,= ea* fiscal ye> dur+ :i* an agreem5t "u ?is section is 9 effect1 ! ,secret>y may use to c>ry out ?is section any funds appropriat$ to ! ,secret>y = ! r5ewal ( contracts "u a program describ$ 9 subsection 7a74