The U.S. House of Representatives recently approved the American Clean Energy and Security Act, sponsored by Reps. Waxman (D-CA) and Markey (D-MA).  The bill includes NAR-supported provisions, championed by Rep. Perlmutter (D-CO), that exempt existing homes and buildings from the bill's energy labeling program. The bill as amended does not require an energy audit or upgrades.  (The bill has passed only the House. NAR is working closely with the Senate to make additional improvements.)

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.

Additional information:

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.