summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
Job Creation and Energy Efficiency Act - Amends the Energy Policy Act of 2005 to authorize the Secretary of Energy (DOE) to provide credit support to ameliorate risks for a debt or repayment obligation incurred in connection with financing the installation and implementation of efficiency, advanced metering, distributed generation, or renewable energy technologies and measures that are expected to increase the energy efficiency of one or more buildings (including fixtures). Makes commercial, multifamily residential, industrial, municipal, government institutions of higher education, school, and hospital facilities eligible for such support. Includes among financing mechanisms that qualify as efficiency obligations: (1) loans, (2) power purchase agreements, (3) energy services agreements, (4) property assessed clean energy bonds and other tax assessment-based financing mechanisms, and (5) aggregate on-meter agreements that finance retrofit projects. Requires the Secretary to prioritize: (1) the maximization of energy savings with the available credit support funding; (2) the establishment of a clear application and approval process that allows private building owners, lenders, and investors to reasonably expect to receive credit support for projects that conform to guidelines; (3) the distribution of projects receiving credit support across states or geographical regions; and (4) projects designed to achieve whole-building retrofits. Prohibits the Secretary from issuing credit support that exceeds: (1) 90% of the principal amount of the obligation that is the subject of the support, or (2) $25 million for any project. Requires the Secretary to report on such support. Authorizes the Secretary to charge reasonable fees for such support.
AI Summary
This bill, the Job Creation and Energy Efficiency Act, amends the Energy Policy Act of 2005 to allow the Secretary of Energy to offer credit support, which is a guarantee or commitment to guarantee, to reduce the risks associated with loans or other repayment obligations used to finance energy efficiency upgrades in buildings. This support is available for a wide range of facilities, including commercial, residential, industrial, and public buildings, and can cover technologies like advanced metering, distributed generation, and renewable energy systems that are expected to improve a building's energy efficiency. The bill outlines various financing methods that qualify, such as loans, power purchase agreements, energy services agreements, and property assessed clean energy bonds. The Secretary is directed to prioritize projects that maximize energy savings, ensure a clear and predictable application process for private owners, lenders, and investors, distribute projects geographically, and focus on comprehensive building retrofits. There are limits on the credit support, with the Secretary unable to cover more than 90% of the debt or $25 million per project, and the Secretary is also required to report on the program and may charge reasonable fees for the support.
Committee Categories
Business and Industry, Transportation and Infrastructure
Sponsors (17)
Russ Carnahan (D),
Judy Chu (D),
John Conyers (D),
Joe Courtney (D),
Rosa DeLauro (D),
Keith Ellison (D),
Sam Farr (D),
Raúl Grijalva (D),
Barbara Lee (D),
Zoe Lofgren (D),
Ben Ray Luján (D),
John Olver (D),
Jan Schakowsky (D),
Paul Tonko (D),
Chris Van Hollen (D),
Peter Welch (D),
Lynn Woolsey (D),
Last Action
Referred to the Subcommittee on Energy and Power. (on 10/18/2011)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/112th-congress/house-bill/3221/all-info |
| BillText | http://gpo.gov/fdsys/pkg/BILLS-112hr3221ih/pdf/BILLS-112hr3221ih.pdf |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr3221ih/pdf/BILLS-112hr3221ih.pdf.pdf |
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