In late June, the U.S. House of Representatives approved the American Clean Energy and Security Act. The bill, H.R. 2998, includes NAR-supported provisions that exempt existing homes and buildings from the bill's provisions to build upon an existing Energy Star energy labeling program.

The House-approved bill:
• 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;

• 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.

While H.R. 2998 includes many positive changes, much work still needs to be done to ensure this bill does not harm real estate and private property owners. NAR will have additional opportunities to make further changes to address unresolved issues, such as the bill's building energy code targets, as the bill works its way through the Senate.

An NAR summary of climate issues, which summarizes NAR policy, may be accessed here.
 

Additional information, including Myths vs. Facts about home energy labeling, can be found here.