S. 3402 (111th): REAL Act of 2010

Introduced:
May 24, 2010 (111th Congress, 2009–2010)
Status:
Died (Referred to Committee)
Sponsor
George LeMieux
Senator from Florida
Party
Republican
Text
Read Text »
Last Updated
May 24, 2010
Length
11 pages
Related Bills
S. 1379 (Related)
Energy Efficiency in Housing Act of 2009

Referred to Committee
Last Action: Jun 25, 2009

 
Status

This bill was introduced on May 24, 2010, in a previous session of Congress, but was not enacted.

Progress
Introduced May 24, 2010
Referred to Committee May 24, 2010
 
Full Title

A bill to encourage residential use of renewable energy systems by minimizing upfront costs and providing immediate utility cost savings to consumers through leasing of such systems to homeowners, and for other purposes.

Summary

No summaries available.

Cosponsors
2 cosponsors (1D, 1R) (show)
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


5/24/2010--Introduced.
Renewable Energy Access Through Leasing Act of 2010 or the REAL Act of 2010- Authorizes the Secretary of Housing and Urban Development (HUD) to make loan guarantees for the financing of renewable energy systems leased for residential use.
Prohibits the Secretary from insuring a loan unless the renewable energy system owner certifies that the systems financed will be leased only to homeowners that grant easements to install, maintain, use and otherwise access the system that include the right to sell electricity produced during the life of the renewable energy system to a wholesale or retail electrical power grid.
Requires the Secretary to: (1) ensure that a discount given under this Act does not adversely affect the homeowner's mortgage requirements; and (2) fix and collect premiums for insurance of loans under this Act that shall be paid for by the renewable energy system owner and that shall be adequate to cover the expenses and probable losses of administering the program. Prohibits the Secretary from assessing any other fee, premium, or charge in connection with such loan insurance.
Establishes the Renewable Energy Lease Insurance Fund, into which the Secretary shall deposit any such premiums.
Terminates the Secretary's authority to insure and make commitments to insure new loans under this Act ten years after its enactment.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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