S.Amdt. 5043

SA 5043. Mr. BINGAMAN (for himself and Mr. Domenici) submitted an
amendment intended to be proposed to amendment SA 4983 proposed by Mr.
Reid (for Mr. Dodd (for himself and Mr. Shelby)) to the bill H.R. 3221,
moving the United States toward greater energy independence and
security; developing innovative new technologies, reducing carbon
emissions, creating green jobs, protecting consumers, increasing clean
renewable energy production, and modernizing our energy infrastructure,
and to amend the Internal Revenue Code of 1986 to provide tax
incentives for the production of renewable energy and energy
conservation; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. _____. INCREASING ACCESS AND UNDERSTANDING OF ENERGY
EFFICIENT MORTGAGES.

(a) Definition.--As used in this section, the term ``energy
efficient mortgage'' has the same meaning as given that term
in paragraph (24) of section 104 of the Cranston-Gonzalez
National Affordable Housing Act (42 U.S.C. 12704(24)).
(b) Recommendations To Eliminate Barriers to Use of Energy
Efficient Mortgages.--
(1) In general.--Not later than 180 days after the date of
enactment of this section, the Secretary of Housing and Urban
Development, in conjunction with the Secretary of Energy and
the Administrator of the Environmental Protection Agency,
shall consult with the residential mortgage industry and
States to develop recommendations to eliminate the barriers
that exist to increasing the availability, use, and purchase
of energy efficient mortgages, including such barriers as--
(A) the lack of reliable and accessible information on such
mortgages, including estimated energy savings and other
benefits of energy efficient housing;
(B) the confusion regarding underwriting requirements and
differences among various energy efficient mortgage programs;
(C) the complex and time consuming process of securing such
mortgages;
(D) the lack of publicly available research on the default
risk of such mortgages; and
(E) the availability of certified or accredited home energy
rating services.
(2) Report to congress.--The Secretary of Housing and Urban
Development shall submit a report to Congress that--
(A) summarizes the recommendations developed under
paragraph (1); and

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(B) includes any recommendations for statutory, regulatory,
or administrative changes the Secretary deems necessary to
institute such recommendations.
(c) Energy Efficient Mortgages Outreach Campaign.--
(1) In general.--The Secretary of Housing and Urban
Development, in consultation and coordination with the
Secretary of Energy, the Administrator of the Environmental
Protection Agency, and State Energy and Housing Finance
Directors, shall carry out an education and outreach campaign
to inform and educate consumers, home builders, residential
lenders, and other real estate professionals on the
availability, benefits, and advantages of--
(A) improved energy efficiency in housing; and
(B) energy efficient mortgages.
(2) Authorization of appropriations.--There are authorized
to be appropriated such sums as are necessary to carry out
the education and outreach campaign described under paragraph
(1).
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