Builders have officially given their support to the GREEN
Act (HR 2336), which sailed
through the House Financial Services Committee on a voice vote. Rep. Ed
Perlmutter (CO), cosponsor of the legislation, confirmed the endorsement of the
National Association of Home Builders in a recent conversation.
In 2008, the bipartisan Green Resources for Energy Efficient
Neighborhoods (GREEN) Act passed the full House of Representatives as part of
the Comprehensive Energy Security and Consumer Protection Act, which was later
stalled. In 2009, it again passed the full house as part of the American Clean
Energy and Security Act, which was also later stalled.
In early 2010,
Perlmutter and cosponsor Rep. Judy Biggert (IL) made some consensus changes to
the bipartisan bill and ushered it through the committee. It is now before the
full House for a vote later this year. The act enjoys broad support from many groups, including the
National Association of Home Builders.
The GREEN Act provides incentives to lenders and financial
institutions to fund energy efficient, sustainable, and affordable
development. The act’s greatest
innovation is its proposal that energy efficiency be considered in the real
estate appraisal process. Perlmutter commented, “By prioritizing energy
efficiency practices, we can ease the woes of homeowners, lenders, financial
markets, builders, and our environment.”