To amend the Low-Income Home Energy Assistance Act of 1981 to provide supplemental funds for States with programs to facilitate the collection of private donations by utilities to be used for payment of the utility bills, and for other purposes.

June 19, 2001

Mr. FORD introduced the following bill; which was referred to the Committee on Energy and Commerce, and in addition to the Committees on Financial Services, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

To amend the Low-Income Home Energy Assistance Act of 1981 to provide supplemental funds for States with programs to facilitate the collection of private donations by utilities to be used for payment of the utility bills, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Energy Efficiency and Assistance Act of 2001'.

SEC. 2. SUPPLEMENTAL LIHEAP FUNDING FOR STATES WITH CERTAIN PROGRAMS.

Section 2607A(b) of the Low-Income Home Energy Assistance Act of 1981 (42 U.S.C. 8626a) is amended by adding the following at the end thereof:

`The term `leveraged resources' also includes any State program which facilitates the collection of donations by electric and gas utilities to be used by public agencies or private nonprofit organizations to pay the electric and natural gas utility bills of individuals in households with incomes which do not exceed an amount equal to 200 percent of the poverty level for the State concerned and other individuals with insufficient financial resources to pay such bills.'.

SEC. 3. LIHEAP AND SUPPLEMENTAL LIHEAP AUTHORIZATIONS.

Section 2602 of the Low-Income Home Energy Assistance Act of 1981 (42 U.S.C. 8621) is amended as follows:

(1) In subsection (b), strike `$2,000,000000 for each of fiscal years 2002 through 2004' and insert `$3,400,000,0000 for each of the fiscal years 2002 through 2005'.

(2) Amend subsection (d) to read as follows:

`(d) There is authorized to carry out section 2607A, $100,000,000 for each of the fiscal years 2002 through 2005.'.

SEC. 4. ENERGY EFFICIENT HOME FINANCING.

(a) RESIDENTIAL ENERGY EFFICIENCY IMPROVEMENT LOANS INCLUDED AS QUALIFIED THRIFT INVESTMENT- Subclause (I) of section 10(m)(4)(C)(ii) of Home Owners' Loan Act (12 U.S.C. 1467a(m)(4)(C)(ii)(I)) is amended by inserting `, including residential energy efficiency improvement loans' before the period at the end.

(b) PROJECTED ENERGY SAVINGS TAKEN INTO ACCOUNT IN DETERMINING LOAN ELIGIBILITY-

(1) IN GENERAL- Chapter 2 of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is amended by adding at the end the following new section:

`Sec. 140. Residential energy efficiency improvement loans

`(a) ENERGY SAVINGS- In making any determination concerning the eligibility of any consumer for a residential energy efficiency improvement loan, the creditor shall take into account the amount of the estimated future savings attributable to the improvements in energy efficiency.

`(b) FACTORS FOR CONSIDERATION- In reviewing regulations prescribed under this title and considering proposed regulations under this title, the Board shall consider--

`(1) whether the regulations or proposed regulations make, or could make, residential energy efficiency improvement loans more affordable; and

`(2) whether any changes could be made in such regulations to provide more flexibility for home equity loans in order to make such loans more readily available to low- and moderate-income consumers for the purposes of improving residential energy efficiency.

`(c) RESIDENTIAL ENERGY EFFICIENCY IMPROVEMENT LOAN DEFINED- For purposes of this section, the term `residential energy efficiency improvement loan' means any loan or extension of credit, secured or unsecured, the proceeds of which are to be used for improving the energy efficiency of residential real property, including the purchase and installation of alternative sources of energy.'.

(2) CLERICAL AMENDMENT- The table of sections for chapter 2 of the Truth in Lending Act is amended by inserting after the item relating to section 139 the following new item:

`140. Residential energy efficiency improvement loans'.

(c) FHA- Title V of the National Housing Act (12 U.S.C. 1731a et seq.) is amended by adding at the end the following new section:

`SEC. 543. INCENTIVES TO INCREASE ENERGY EFFICIENCY.

`Not later than 12 months after the date of the enactment of the Energy Efficiency and Assistance Act of 2001, the Secretary shall--

`(1) develop and implement measures under the mortgage insurance programs under this Act--

`(A) to provide financing incentives to improve the energy efficiency of residential properties subject to mortgages insured under this Act;

`(B) to make energy efficient mortgages (as such term is defined in section 106(c) of the Energy Policy Act of 1992 (42 U.S.C. 12712 note)) more affordable and available; and

`(C) to ensure that, in making any determination concerning the eligibility of any borrower for a mortgage insured under this Act that includes financing for any residential energy conservation measures (as such term is defined in section 210 of the National Energy Conservation Policy Act (42 U.S.C. 8211)), the lender shall take into account the amount of the estimated future savings attributable to the improvements in energy efficiency; and

`(2) submit a report to the Congress specifying the actions taken to carry out the requirements under paragraph (1).'.

(d) RURAL HOUSING- Title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) is amended by adding at the end the following new section:

`SEC. 544. INCENTIVES TO INCREASE ENERGY EFFICIENCY.

`Not later than 12 months after the date of the enactment of the Energy Efficiency and Assistance Act of 2001, the Secretary shall--

`(1) develop and implement measures under the housing loan programs under this title--

`(A) to provide financing incentives to improve the energy efficiency of residential properties puon 210 of the National Energy Conservation Policy Act (42 U.S.C. 8211)), the lender shall take into account the amount of the estimated future savings attributable to the improvements in energy efficiency; and

`(2) submit a report to the Congress specifying the actions taken to carry out the requirements under paragraph (1).'.

(e) FANNIE MAE- The Federal National Mortgage Association Charter Act (12 U.S.C. 1716 et seq.) is amended by inserting after section 304 the following new section:

`INCENTIVES TO INCREASE ENERGY EFFICIENCY--FEDERAL NATIONAL MORTGAGE ASSOCIATION

`SEC. 305. Not later than 12 months after the date of the enactment of the Energy Efficiency and Assistance Act of 2001, the corporation shall--

`(1) develop and implement measures or standards for loans purchased by the corporation--

`(A) to provide financing incentives to improve the energy efficiency of residential properties purchased with such loans;

`(B) to make energy efficient mortgages (as such term is defined in section 106(c) of the Energy Policy Act of 1992 (42 U.S.C. 12712 note)) more affordable and available; and

`(C) to ensure that, in making any determination concerning the eligibility of any borrower for such a loan that includes financing for any residential energy conservation measures (as such term is defined in section 210 of the National Energy Conservation Policy Act (42 U.S.C. 8211)), the lender shall take into account the amount of the estimated future savings attributable to the improvements in energy efficiency; and

`(2) submit a report to the Congress specifying the actions taken to carry out the requirements under paragraph (1).'.

(f) FREDDIE MAC- The Federal Home Loan Mortgage Corporation Act (12 U.S.C. 1451 et seq.) is amended by adding at the end the following new section:

`INCENTIVES TO INCREASE ENERGY EFFICIENCY

`SEC. 311. Not later than 12 months after the date of the enactment of the Energy Efficiency and Assistance Act of 2001, the Corporation shall--

`(1) develop and implement measures or standards for loans purchased by the Corporation--

`(A) to provide financing incentives to improve the energy efficiency of residential properties purchased with such loans;

`(B) to make energy efficient mortgages (as such term is defined in section 106(c) of the Energy Policy Act of 1992 (42 U.S.C. 12712 note)) more affordable and available; and

`(C) to ensure that, in making any determination concerning the eligibility of any borrower for such a loan that includes financing for any residential energy conservation measures (as such term is defined in section 210 of the National Energy Conservation Policy Act (42 U.S.C. 8211)), the lender shall take into account the amount of the estimated future savings attributable to the improvements in energy efficiency; and

`(2) submit a report to the Congress specifying the actions taken to carry out the requirements under paragraph (1).'.

END