[Pages S2882-S2884]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3052. Mr. SANDERS (for himself, Mr. Wyden, Mr. King, and Mr. 
Casey) submitted an amendment intended to be proposed by him to the 
bill S. 2262, to promote energy savings in residential buildings and 
industry, and for other purposes; which was ordered to lie on the 
table; as follows:

       Strike section 501 and insert the following:

     SEC. 501. STATE RESIDENTIAL BUILDING ENERGY EFFICIENCY 
                   UPGRADES LOAN PILOT PROGRAM.

       (a) Loans for Residential Building Energy Efficiency 
     Upgrades.--Part D of title III of the Energy Policy and 
     Conservation Act (42 U.S.C. 6321 et seq.) is amended by 
     adding at the end the following:

     ``SEC. 367. LOANS FOR RESIDENTIAL BUILDING ENERGY EFFICIENCY 
                   UPGRADES.

       ``(a) Definitions.--In this section:
       ``(1) Consumer-friendly.--The term `consumer-friendly', 
     with respect to a loan repayment approach, means a loan 
     repayment approach that--
       ``(A) emphasizes convenience for customers;
       ``(B) is of low cost to consumers; and
       ``(C) emphasizes simplicity and ease of use for consumers 
     in the billing process.
       ``(2) Eligible entity.--The term `eligible entity' means--
       ``(A) a State or territory of the United States; and
       ``(B) a tribal organization (as defined in section 4 of the 
     Indian Self-Determination and Education Assistance Act (25 
     U.S.C. 450b)).
       ``(3) Energy advisor program.--
       ``(A) In general.--The term `energy advisor program' means 
     any program to provide to owners or residents of residential 
     buildings advice, information, and support in the 
     identification, prioritization, and implementation of energy 
     efficiency and energy savings measures.
       ``(B) Inclusions.--The term `energy advisor program' 
     includes a program that provides--
       ``(i) interpretation of energy audit reports;
       ``(ii) assistance in the prioritization of improvements;
       ``(iii) assistance in finding qualified contractors;
       ``(iv) assistance in contractor bid reviews;
       ``(v) education on energy conservation and energy 
     efficiency;
       ``(vi) explanations of available incentives and tax 
     credits;
       ``(vii) assistance in completion of rebate and incentive 
     paperwork; and
       ``(viii) any other similar type of support.
       ``(4) Energy efficiency.--The term `energy efficiency' 
     means a decrease in homeowner or residential tenant 
     consumption of energy (including electricity and thermal 
     energy) that is achieved without reducing the quality of 
     energy services through--
       ``(A) a measure or program that targets customer behavior;
       ``(B) equipment;
       ``(C) a device; or
       ``(D) other material.
       ``(5) Energy efficiency upgrade.--
       ``(A) In general.--The term `energy efficiency upgrade' 
     means any project or activity--
       ``(i) the primary purpose of which is increasing energy 
     efficiency; and
       ``(ii) that is carried out on a residential building.
       ``(B) Inclusions.--The term `energy efficiency upgrade' 
     includes the installation or improvement of a renewable 
     energy facility for heating or electricity generation serving 
     a residential building carried out in conjunction with an 
     energy efficiency project or activity.
       ``(6) Program entity.--The term `program entity' means a 
     local government, utility, or other entity that carries out a 
     financing program under subsection (e)(2)(A) pursuant to a 
     contract or other agreement with an eligible entity.

[[Page S2883]]

       ``(7) Recipient household.--The term `recipient household' 
     means the owner or tenant of a residential building who 
     receives financing under this section for an energy 
     efficiency upgrade of the residential building.
       ``(8) Residential building.--
       ``(A) In general.--The term `residential building' means a 
     building used for residential purposes.
       ``(B) Inclusions.--The term `residential building' 
     includes--
       ``(i) a single-family residence;
       ``(ii) a multifamily residence composed not more than 4 
     units; and
       ``(iii) a mixed-use building that includes not more than 4 
     residential units.
       ``(b) Establishment of Program.--
       ``(1) In general.--The Secretary shall establish a program 
     under this part under which the Secretary shall make 
     available to eligible entities loans for the purpose of 
     establishing or expanding programs that provide to recipient 
     households financing for energy efficiency upgrades of 
     residential buildings.
       ``(2) Consultation.--In establishing the program under 
     paragraph (1), the Secretary shall consult, as the Secretary 
     determines to be appropriate, with stakeholders and the 
     public.
       ``(3) No requirement to participate.--No eligible entity 
     shall be required to participate in any manner in the program 
     established under paragraph (1).
       ``(4) Deadlines.--The Secretary shall--
       ``(A) not later than 1 year after the date of enactment of 
     the Energy Savings and Industrial Competitiveness Act of 
     2014, implement the program established under paragraph (1) 
     (including soliciting applications from eligible entities in 
     accordance with subsection (c)); and
       ``(B) not later than 2 years after the date of enactment of 
     the Energy Savings and Industrial Competitiveness Act of 
     2014, disburse the initial loans provided under this section.
       ``(c) Applications.--
       ``(1) In general.--To be eligible to receive a loan under 
     this section, an eligible entity shall submit to the 
     Secretary an application at such time, in such manner, and 
     containing such information as the Secretary may require.
       ``(2) Selection date.--Not later than 21 months after the 
     date of enactment of the Energy Savings and Industrial 
     Competitiveness Act of 2014, the Secretary shall select 
     eligible entities to receive the initial loans provided under 
     this section, in accordance with the requirements described 
     in paragraph (3).
       ``(3) Requirements.--In selecting eligible entities to 
     receive loans under this section, the Secretary shall--
       ``(A) to the maximum extent practicable, ensure--
       ``(i) that both innovative and established approaches to 
     the challenges of financing energy efficiency upgrades are 
     supported;
       ``(ii) that energy efficiency upgrades are conducted and 
     validated to comply with best practices for work quality, as 
     determined by the Secretary;
       ``(iii) regional diversity among eligible entities that 
     receive the loans, including participation by rural States 
     and small States;
       ``(iv) significant participation by families with income 
     levels at or below the median income level for the applicable 
     geographical region, as determined by the Secretary; and
       ``(v) the incorporation of an energy advisor program by, as 
     applicable--

       ``(I) eligible entities; or
       ``(II) program entities;

       ``(B) evaluate applications based primarily on--
       ``(i) the projected reduction in energy use, as determined 
     in accordance with such specific and commonly available 
     methodology as the Secretary shall establish, by regulation;
       ``(ii) the creditworthiness of the eligible entity; and
       ``(iii) the incorporation of measures for making the loan 
     repayment system for recipient households as consumer-
     friendly as practicable;
       ``(C) evaluate applications based secondarily on--
       ``(i) the extent to which the proposed financing program of 
     the eligible entity incorporates best practices for such a 
     program, as determined by the Secretary;
       ``(ii)(I) whether the eligible entity has created a plan 
     for evaluating the effectiveness of the proposed financing 
     program; and
       ``(II) whether that plan includes--

       ``(aa) a robust strategy for collecting, managing, and 
     analyzing data, as well as making the data available to the 
     public; and
       ``(bb) experimental studies, which may include 
     investigations of how human behavior impacts the 
     effectiveness of efficiency improvements;

       ``(iii) the extent to which Federal funds are matched by 
     funding from State, local, philanthropic, private sector, and 
     other sources;
       ``(iv) the extent to which the proposed financing program 
     will be coordinated and marketed with other existing or 
     planned energy efficiency or energy conservation programs 
     administered by--

       ``(I) utilities and rural cooperatives;
       ``(II) State, tribal, territorial, or local governments; or
       ``(III) community development financial institutions; and

       ``(v) such other factors as the Secretary determines to be 
     appropriate; and
       ``(D) not provide an advantage or disadvantage to 
     applications that include renewable energy in the program.
       ``(d) Administrative Provisions.--
       ``(1) Term.--The Secretary shall establish terms for loans 
     provided to eligible entities under this section--
       ``(A) in a manner that--
       ``(i) provides for a high degree of cost recovery; and
       ``(ii) ensures that, with respect to all loans provided to 
     or by eligible entities under this section, the loans are 
     competitive with, or superior to, other forms of financing 
     for similar purposes; and
       ``(B) subject to the condition that the term of a loan 
     provided to an eligible entity under this section shall not 
     exceed 35 years.
       ``(2) Interest rates.--
       ``(A) In general.--Subject to subparagraph (B), the 
     Secretary, at the discretion of the Secretary, shall charge 
     interest on a loan provided to an eligible entity under this 
     section at a fixed rate equal, or approximately equal, to the 
     interest rate charged on Treasury securities of comparable 
     maturity.
       ``(B) Leveraged loans.--The interest rate and other terms 
     of the loans provided to eligible entities under this section 
     shall be established in a manner that ensures that the total 
     amount of the loans is equal to not less than 20 times, and 
     not more than 50 times, an amount equivalent to 80 percent of 
     the amount appropriated for administrative and general 
     financial support costs pursuant to subsection (g)(2).
       ``(3) No penalty on early repayment.--The Secretary shall 
     not assess any penalty for early repayment by an eligible 
     entity of a loan provided under this section.
       ``(4) Return of unused portion.--As a condition of receipt 
     of a loan under this section, an eligible entity shall agree 
     to return to the general fund of the Treasury any portion of 
     the loan amount that is unused by the eligible entity within 
     a reasonable period after the date of receipt of the loan, as 
     determined by the Secretary.
       ``(e) Use of Funds.--
       ``(1) In general.--An eligible entity shall use a loan 
     provided under this section to establish or expand 1 or more 
     financing programs--
       ``(A) the purpose of which is to enable recipient 
     households to conduct energy efficiency upgrades of 
     residential buildings;
       ``(B) that may, at the sole discretion of the eligible 
     entity, require an outlay of capital by recipient households 
     in accordance with the goals of the program under this 
     section; and
       ``(C) that incorporate a consumer-friendly loan repayment 
     approach.
       ``(2) Structure of financing program.--A financing program 
     of an eligible entity may--
       ``(A) consist--
       ``(i) primarily or entirely of a financing program 
     administered by--

       ``(I) the applicable State; or
       ``(II) a program entity; or

       ``(ii) of a combination of programs described in clause 
     (i);
       ``(B) rely on financing provided by--
       ``(i) the eligible entity; or
       ``(ii) a third party, acting through the eligible entity; 
     and
       ``(C) include a provision pursuant to which a recipient 
     household shall agree to return to the eligible entity any 
     portion of the assistance that is unused by the recipient 
     household within a reasonable period after the date of 
     receipt of the assistance, as determined by the eligible 
     entity.
       ``(3) Form of assistance.--Assistance from an eligible 
     entity under this subsection may be provided in any form, or 
     in accordance with any program, authorized by Federal law 
     (including regulations), including in the form of--
       ``(A) a revolving loan fund;
       ``(B) a credit enhancement structure designed to mitigate 
     the effects of default; or
       ``(C) a program that--
       ``(i) adopts any other approach for providing financing for 
     energy efficiency upgrades producing significant energy 
     efficiency gains; and
       ``(ii) incorporates measures for making the loan repayment 
     system for recipient households as consumer-friendly as 
     practicable.
       ``(4) Scope of assistance.--Assistance provided by an 
     eligible entity under this subsection may be used to pay for 
     costs associated with carrying out an energy efficiency 
     upgrade, including materials and labor.
       ``(5) Additional assistance.--In addition to the amount of 
     the loan provided to an eligible entity by the Secretary 
     under subsection (b), the eligible entity or program entity, 
     as applicable, may provide to recipient households such 
     assistance under this subsection as the eligible entity or 
     program entity considers to be appropriate from any other 
     funds of the eligible entity or program entity, including 
     funds provided to the eligible entity by the Secretary for 
     administrative costs pursuant to this section.
       ``(6) Limitations.--
       ``(A) Interest rates.--
       ``(i) Interest charged by eligible entities.--The interest 
     rate charged by an eligible entity on assistance provided 
     under this subsection--

       ``(I) shall be fixed; and
       ``(II) shall not exceed the interest rate paid by the 
     eligible entity to the Secretary under subsection (d)(2).

       ``(ii) Interest charged by program entities.--A program 
     entity that receives funding from an eligible entity under 
     this subsection for the purpose of capitalizing a residential 
     energy efficiency financing program may charge interest on 
     any loan provided by

[[Page S2884]]

     the program entity at a fixed rate that is as low as 
     practicable, but not more than 5 percent more than the 
     applicable interest rate paid by the eligible entity to the 
     Secretary under subsection (d)(2).
       ``(B) No penalty on early repayment.--An eligible entity or 
     program entity, as applicable, shall not assess any penalty 
     for early repayment by any recipient household to the 
     eligible entity or program entity, as applicable.
       ``(f) Reports.--
       ``(1) Eligible entities.--
       ``(A) In general.--Not later than 2 years after the date of 
     receipt of the loan, and annually thereafter for the term of 
     the loan, an eligible entity that receives a loan under this 
     section shall submit to the Secretary a report describing the 
     performance of each program and activity carried out using 
     the loan, including anonymized loan performance data.
       ``(B) Requirements.--The Secretary, in consultation with 
     eligible entities and other stakeholders (such as lending 
     institutions and the real estate industry), shall establish 
     such requirements for the reports under this paragraph as the 
     Secretary determines to be appropriate--
       ``(i) to ensure that the reports are clear, consistent, and 
     straightforward; and
       ``(ii) taking into account the reporting requirements for 
     similar programs in which the eligible entities are 
     participating, if any.
       ``(2) Secretary.--The Secretary shall submit to Congress 
     and make available to the public--
       ``(A) not less frequently than once each year, a report 
     describing the performance of the program under this section, 
     including a synthesis and analysis of the information 
     provided in the reports submitted to the Secretary under 
     paragraph (1)(A); and
       ``(B) on termination of the program under this section, an 
     assessment of the success of, and education provided by, the 
     measures carried out by eligible entities during the term of 
     the program.
       ``(g) Authorization of Appropriations.--There are 
     authorized to be appropriated to the Secretary to carry out 
     this section--
       ``(1) $37,500,000 for energy advisor programs;
       ``(2) $25,000,000 for administrative and general financial 
     support costs to the Secretary of carrying out this section; 
     and
       ``(3) $37,500,000 for administrative costs to States in 
     carrying out this section.''.
       (b) Reorganization.--
       (1) In general.--Part D of title III of the Energy Policy 
     and Conservation Act (42 U.S.C. 6321 et seq.) is amended--
       (A) by redesignating sections 362, 363, 364, 365, and 366 
     as sections 364, 365, 366, 363, and 362, respectively, and 
     moving the sections so as to appear in numerical order;
       (B) in section 362 (as so redesignated)--
       (i) in paragraph (3)(B)(i), by striking ``section 367, 
     and'' and inserting ``section 367 (as in effect on the day 
     before the date of enactment of the State Energy Efficiency 
     Programs Improvement Act of 1990 (42 U.S.C. 6201 note; Public 
     Law 101-440)); and''; and
       (ii) in each of paragraphs (4) and (6), by striking 
     ``section 365(e)(1)'' each place it appears and inserting 
     ``section 363(e)(1)'';
       (C) in section 363 (as so redesignated)--
       (i) in subsection (b), by striking ``the provisions of 
     sections 362 and 364 and subsection (a) of section 363'' and 
     inserting ``sections 364, 365(a), and 366''; and
       (ii) in subsection (g)(1)(A), in the second sentence, by 
     striking ``section 362'' and inserting ``section 364''; and
       (D) in section 365 (as so redesignated)--
       (i) in subsection (a)--

       (I) in paragraph (1), by striking ``section 362,'' and 
     inserting ``section 364;''; and
       (II) in paragraph (2), by striking ``section 362(b) or 
     (e)'' and inserting ``subsection (b) or (e) of section 364''; 
     and

       (ii) in subsection (b)(2), in the matter preceding 
     subparagraph (A), by striking ``section 362(b) or (e)'' and 
     inserting ``subsection (b) or (e) of section 364''.
       (2) Conforming amendments.--Section 391 of the Energy 
     Policy and Conservation Act (42 U.S.C. 6371) is amended--
       (A) in paragraph (2)(M), by striking ``section 365(e)(2)'' 
     and inserting ``section 363(e)(2)''; and
       (B) in paragraph (10), by striking ``section 362 of this 
     Act'' and inserting ``section 364''.
       (3) Clerical amendment.--The table of contents of the 
     Energy Policy and Conservation Act (42 U.S.C. 6201 note; 
     Public Law 94-163) is amended by striking the items relating 
     to part D of title III and inserting the following:

              ``Part D--State Energy Conservation Programs

``Sec. 361. Findings and purpose.
``Sec. 362. Definitions.
``Sec. 363. General provisions.
``Sec. 364. State energy conservation plans.
``Sec. 365. Federal assistance to States.
``Sec. 366. State energy efficiency goals.
``Sec. 367. Loans for residential building energy efficiency 
              upgrades.''.

     SEC. 502. OFFSET.

       Section 422(f) of the Energy Independence and Security Act 
     of 2007 (42 U.S.C. 17082(f)) is amended--
       (1) in paragraph (3), by striking ``and'' after the 
     semicolon at the end; and
       (2) by striking paragraph (4) and inserting the following:
       ``(4) $200,000,000 for fiscal year 2013; and
       ``(5) $124,000,000 for each of fiscal years 2014 through 
     2018.''.
                                 ______