,,ii #aadth ,,congress #ast ,session ,s4 #hgh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #bf1 #bjae,mr4 ,sanders 7for himself1 ,ms4 ,cantwell1 ,mr4 ,wyden1 ,mr4 ,king1 ,mr4 ,whitehouse1 ,mr4 ,markey1 and ,mr4 ,franken7 introduced the following bill2 which was read twice and referred to the ,committee on ,energy and ,natural ,resources ,a ,,bill ,to establish a ,state residential building energy efficiency upgrades loan pilot program4 #a4 ,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 ,the term consumer-friendly1 with respect to a loan repayment approach1 means a loan repayment approach that-- 7,a7 emphasizes convenience for customers2 7,b7 is of low cost to consumers2 and 7,c7 emphasizes simplicity and ease of use for consumers in the billing process4 7#b7 ,eligible entity ,the term eligible entity means-- 7,a7 a ,state or territory of the ,united ,states2 and 7,b7 a tribal organization 7as defined in section #d of the ,indian ,self-,determination and ,education ,assistance ,act 7#be ,u4,s4,c4 #dej;b774 7#c7 ,energy advisor program 7,a7 ,in general ,the term energy advisor program means any program to provide to owners or residents of residential buildings 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 conservation 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 decrease in homeowner or residential tenant consumption of energy 7including electricity and thermal energy7 that is achieved without reducing the quality of energy services through-- 7,a7 a measure or program that targets customer behavior2 7,b7 equipment or energy systems2 7,c7 a device2 or 7,d7 other material4 7#e7 ,energy efficiency upgrade 7,a7 ,in general ,the term energy efficiency upgrade means any project or activity-- 7i7 the primary purpose of which is increasing energy efficiency2 and 7ii7 that is carried out on a residential building4 7,b7 ,inclusions ,the term energy efficiency upgrade includes the installation or improvement of a renewable energy facility for heating or electricity generation serving a residential building carried out in conjunction with an energy efficiency project or activity4 7#f7 ,program entity ,the term program entity means a local government1 utility1 or other entity that carries out a financing program under subsection 7e77#b77;,a7 pursuant to a contract or other agreement with an eligible entity4 7#g7 ,recipient household ,the term recipient household means the owner or tenant of a residential building who receives financing under this section for an energy efficiency upgrade of the residential building4 7#h7 ,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 recipient households financing for energy efficiency upgrades of residential buildings4 7#b7 ,consultation ,in establishing the program under paragraph 7#a71 the ,secretary shall consult1 as the ,secretary determines to be appropriate1 with stakeholders and the public4 7#c7 ,no requirement to participate ,no eligible entity shall be required to participate in any manner in the program established under paragraph 7#a74 7#d7 ,deadlines ,the ,secretary shall-- 7,a7 not later than #a year after the date of enactment of this section1 implement the program established under paragraph 7#a7 7including soliciting applications from eligible entities in accordance with subsection 7c772 and 7,b7 not later than #b years after the date of enactment of this section1 disburse the initial loans provided under this section4 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 date ,not later than #ba months after the date of enactment of this section1 the ,secretary shall select eligible entities to receive the initial loans provided under this section1 in accordance with the requirements described in paragraph 7#c74 7#c7 ,requirements ,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 that energy efficiency upgrades are conducted and validated to comply with best practices for work quality1 as determined by the ,secretary2 7iii7 regional diversity among eligible entities that receive the loans1 including participation by rural ,states and small ,states2 7iv7 significant participation by families with income levels at or below the median income level for the applicable geographical region1 as determined by the ,secretary2 and 7v7 the incorporation of an energy advisor program by1 as applicable-- 7,i7 eligible entities2 or 7,,ii7 program entities2 7,b7 evaluate applications based primarily on-- 7i7 the projected reduction in energy use1 as determined in accordance with such specific and commonly available methodology as the ,secretary shall establish1 by regulation2 7ii7 the creditworthiness of the eligible entity2 and 7iii7 the incorporation of measures for making the loan repayment system for recipient households as consumer-friendly as practicable2 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 7,i7 whether the eligible entity has created a plan for evaluating the effectiveness of the proposed financing program2 and 7,,ii7 whether that plan includes-- 7aa7 a robust strategy for collecting1 managing1 and analyzing data1 as well as making the data available to the public2 and 7bb7 experimental studies1 which may include investigations of how human behavior impacts the effectiveness of efficiency improvements2 7iii7 the extent to which ,federal funds are matched by funding from ,state1 local1 philanthropic1 private sector1 and other sources2 7iv7 the extent to which the proposed financing program will be coordinated and marketed with other existing or planned energy efficiency or energy conservation programs administered by-- 7,i7 utilities and rural cooperatives2 7,,ii7 ,state1 tribal1 territorial1 or local governments2 or 7,,iii7 community development financial institutions2 and 7v7 such other factors as the ,secretary determines to be appropriate2 and 7,d7 not provide an advantage or disadvantage to applications that include renewable energy in the program4 7d7 ,administrative provisions 7#a7 ,term ,the ,secretary shall establish terms for loans provided to eligible entities under this section-- 7,a7 in a manner that-- 7i7 provides for a high degree of cost recovery2 and 7ii7 ensures that1 with respect to all loans provided to or by eligible entities under this section1 the loans are competitive with1 or superior to1 other forms of financing for similar purposes2 and 7,b7 subject to the condition that the term of a loan provided to an eligible entity under this section shall not exceed #ce years4 7#b7 ,interest rates 7,a7 ,in general ,subject to subparagraph 7,b71 the ,secretary1 at the discretion of the ,secretary1 shall charge interest on a loan provided to an eligible entity under this section at a fixed rate equal1 or approximately equal1 to the interest rate charged on ,treasury securities of comparable maturity4 7,b7 ,leveraged loans ,the interest rate and other terms of the loans provided to eligible entities under this section shall be established in a manner that ensures that the total amount of the loans is equal to not less than #bj times1 and not more than #ej times1 an amount equivalent to #hj percent of the amount appropriated for administrative and general financial support costs pursuant to subsection 7g77#b74 7#c7 ,no penalty on early repayment ,the ,secretary shall not assess any penalty for early repayment by an eligible entity of a loan provided under this section4 7#d7 ,return of unused portion ,as a condition of receipt of a loan under this section1 an eligible entity shall agree to return to the general fund of the ,treasury any portion of the loan amount that is unused by the eligible entity within a reasonable period after the date of receipt of the loan1 as determined by the ,secretary4 7e7 ,use of funds 7#a7 ,in general ,an eligible entity shall use a loan provided under this section to establish or expand #a or more financing programs-- 7,a7 the purpose of which is to enable recipient households to undertake energy efficiency upgrades of residential buildings2 7,b7 that may1 at the sole discretion of the eligible entity1 require an outlay of capital by recipient households in accordance with the goals of the program under this section2 and 7,c7 that incorporate a consumer-friendly loan repayment approach4 7#b7 ,structure of financing program ,a 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 program entity2 or 7ii7 of a combination of programs described in clause 7i72 7,b7 rely on financing provided by-- 7i7 the eligible entity2 or 7ii7 a third party1 acting through the eligible entity2 and 7,c7 include a provision pursuant to which a recipient household shall agree to return to the eligible entity any portion of the assistance that is unused by the recipient household within a reasonable period after the date of receipt of the assistance1 as determined by the eligible entity4 7#c7 ,form of assistance ,assistance from an eligible entity under this subsection may be provided in any form1 or in accordance with any program1 authorized by ,federal law 7including regulations71 including 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 and 7ii7 incorporates measures for making the loan repayment system for recipient households 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 7#e7 ,additional assistance ,in addition to the amount of the loan provided to an eligible entity by the ,secretary under subsection 7b71 the eligible entity or program entity1 as applicable1 may provide to recipient households such assistance under this subsection as the eligible entity or program entity considers to be appropriate from any other funds of the eligible entity or program entity1 including funds provided to the eligible entity by the ,secretary for administrative costs pursuant to this section4 7#f7 ,limitations 7,a7 ,interest rates 7i7 ,interest charged by eligible entities ,the interest rate charged by an eligible entity on assistance provided under this subsection-- 7,i7 shall be fixed2 and 7,,ii7 shall not exceed the interest rate paid by the eligible entity to the ,secretary under subsection 7d77#b74 7ii7 ,interest charged by program entities ,a program entity that receives funding from an eligible entity under this subsection for the purpose of capitalizing a residential energy efficiency financing program may charge interest on any loan provided by the program entity at a fixed rate that is as low as practicable1 but not more than #e percent more than the applicable interest rate paid by the eligible entity to the ,secretary under subsection 7d77#b74 7,b7 ,no penalty on early repayment ,an eligible entity or program entity1 as applicable1 shall not assess any penalty for early repayment by any recipient household to the eligible entity or program entity1 as applicable4 7f7 ,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 7g7 ,authorization of appropriations ,there are authorized to be appropriated to the ,secretary to carry out this section-- 7#a7 #cg1ejj1jjj for energy advisor programs2 7#b7 #be1jjj1jjj for administrative and general financial support costs to the ,secretary of carrying out this section2 and 7#c7 #cg1ejj1jjj for administrative costs to ,states in carrying out this section4 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 #b4 ,offset ,section #dbb7;f7 of the ,energy ,independence and ,security ,act of #bjjg 7#db ,u4,s4,c4 #agjhb7;f77 is amended-- 7#a7 in paragraph 7#c71 by striking and after the semicolon at the end2 and 7#b7 by striking paragraph 7#d7 and inserting the following3 7#d7 #bjj1jjj1jjj for each of fiscal years #bjac through #bjae2 and 7#e7 #aff1fff1fff for each of fiscal years #bjaf through #bjah4 4