July 1, 2009 - American Clean Energy and Security Act - Summary

The overwhelming number of comments and questions generated by the House of Representatives passing the American Clean Energy and Security Act requires additional information to address the issue with members.  Attached is an NAR Info Pack that you can post on your websites and distribute to members. 

Here are the Legislative Facts:

      Does not create a federal energy audit requirement for real property;

      Exempts existing homes and building from any federal guidelines for new construction energy efficiency information labels.

      Prohibits the implementation of any labeling during a sales transaction.

               NAR successfully argued  that  point of sale labels would have stigmatized existing property and complicated transactions

      Leaves the decision to states as to whether to require energy audits, disclosures, etc.

      Provides property owners with significant financial incentives, matching grants and tools to make property improvements and reduce their energy bills;

      Prohibits the Environmental Protection Agency from regulating residential and commercial buildings under the Clean Air Act;

      Eliminated an early proposal to allow citizens to sue over minor climate risks under the Clean Air Act; and

      Establishes green building incentives for HUD housing, including a loan program for renewable energy, block grants and credit for upgrades in mortgage underwriting.

      The bill has passed only the House.  It is NOT LAW and NAR is working closely with the Senate to make additional improvements Here are the background facts:

      In addition to our Land Use and Environment Committee consideration of this issue, NAR has been engaged since the appointment of a Presidential Advisory Group in Summer 2008

      They met during 4 separate meetings  and heard expert testimony regarding the full range of Climate/Energy Issues

      The PAG developed NAR's Climate Change Principles

      During the November 2008 convention the Land Use and Environment Committee and the NAR Board of Directors approved the PAG recommendation

      Meetings, via conference call, with the leadership of the Land Use Committee and Forum, as well as with former PAG members and half dozen Realtor associations that had addressed climate bills at the state level continued in early 2009 in anticipation of an Energy Bill.  The consensus of all

      these groups was to concentrate on the real estate provisions -- especially energy labeling. 

Additional information is available at www.realtor.org  Or Click HERE for 2009 NAR INFO PACK AMERICAN CLEAN ENERGY AND SECURITY ACT 

View NAR Economist Ken Fears June 3 presentation on Real Estate and the Economy - HERE

NAR - Eye on the Hill - Special Addition - October 2008

NAR Encourages Members to Support NAR Four-Point Stimulus Plan