American Clean Energy and Security Act Creates Confusion
INDUSTRY NEWS, REAL ESTATE LEGISLATION
July 16th, 2009
The National Association of Realtors (NAR) wants the public to know there is considerable misinformation being disseminated regarding this bill, H.R. 2454, causing a stir on talk radio and Internet chat sites. The erroneous information can be blamed, in part, on Congress for failing to post a current draft of the bill on the web in a timely manner. This led to speculation by opponents of the bill including suggestions of point-of-sale mandates, energy audits and other misinformation.
NAR opposes the bill and was successful in procurring an ammendment that would ensure the new energy standards apply to new construction only, not existing homes. The 1400-page bill only has a small number of provisions that directly impact real estate. It will create a national building code standard that states will be required to adopt. California’s building codes are already in compliance with the provisions in this legislation however NAR and CAR historically oppose federal laws that preempt state laws.
The law will offer incentives to homeowners that voluntarily make energy efficiency improvements. These incentives include grants, loans, loan guarantees and/or mortgage interest rate buy-downs.
Bottom line-this bill contains no point-of-sale mandates or retrofit standards for existing homes.
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL ESTATE PROFESSIONALS GMAC
CORNER OF COURT AND PLACER IN REDDING
QUARTER CENTURY LOCAL REAL ESTATE EXPERIENCE
