article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Recovery Through Building Renovation Act of 2010''. SEC. 2. BUILDING EFFICIENCY RETROFIT LOAN CREDIT SUPPORT PROGRAM. Title XVII of the Energy Policy Act of 2005 (42 U.S.C. 16511 et seq.) is amended by adding at the end the following: ``SEC. 1706. BUILDING RETROFIT FINANCING PROGRAM. ``(a) Definitions.--In this section: ``(1) Credit support.--The term `credit support' means a guarantee or commitment to issue a guarantee or other forms of credit enhancement to ameliorate risks for efficiency obligations. ``(2) Efficiency obligation.--The term `efficiency obligation' means a debt or repayment obligation incurred in connection with financing a project, or a portfolio of such debt or payment obligations. ``(3) Project.--The term `project' means the installation of efficiency or renewable energy measures in a building (or in multiple buildings on a given property) that are expected to increase the energy efficiency of the building (including fixtures) in accordance with criteria established by the Secretary. ``(b) Eligible Projects.-- ``(1) In general.--Notwithstanding sections 1703 and 1705, the Secretary may provide credit support under this section, in accordance with section 1702. ``(2) Inclusions.--Buildings eligible for credit support under this section include commercial, industrial, municipal, university, school, and hospital facilities that satisfy criteria established by the Secretary. ``(c) Guidelines.-- ``(1) In general.--Not later than 180 days after the date of enactment of this section, the Secretary shall establish guidelines for credit support provided under this section. ``(2) Requirements.--The guidelines established by the Secretary under this subsection shall include-- ``(A) standards for assessing the energy savings that could reasonably be expected to result from a project; ``(B) examples of financing mechanisms (and portfolios of such financing mechanisms) that qualify as efficiency obligations; ``(C) the threshold levels of energy savings that a project, at the time of issuance of credit support, shall be reasonably expected to achieve to be eligible for credit support; ``(D) the eligibility criteria the Secretary determines to be necessary for making credit support available under this section; and ``(E) any lien priority requirements that the Secretary determines to be necessary. ``(3) Efficiency obligations.--The financing mechanisms qualified by the Secretary under paragraph (2)(B) may include-- ``(A) loans, including loans made by the Federal Financing Bank; ``(B) power purchase agreements, including energy efficiency power purchase agreements; ``(C) energy services agreements, including energy performance contracts; ``(D) property assessed clean energy bonds and other tax assessment-based financing mechanisms; ``(E) aggregate on-meter agreements that finance retrofit projects; and ``(F) any other efficiency obligations the Secretary determines to be appropriate. ``(4) Priorities.--In carrying out this section, the Secretary shall prioritize-- ``(A) the maximization of energy savings with the available credit support funding; ``(B) the establishment of a clear application and approval process that allows private building owners, lenders, and investors to reasonably expect to receive credit support for projects that conform to guidelines; and ``(C) the distribution of projects receiving credit support under this section across States or geographical regions of the United States. ``(5) Minimum energy savings requirement.-- ``(A) In general.--In carrying out this section, the Secretary shall establish an initial minimum energy savings requirement for eligible projects that, to the maximum extent practicable, results in the greatest amount of energy savings on a per project basis. ``(B) Adjustments.-- ``(i) In general.--Not less than once each year, the Secretary shall adjust the minimum energy savings requirement described in subparagraph (A) and any other credit support terms the Secretary determines to be necessary, including the maximum percentage of the efficiency obligation that may be guaranteed, taking into account market conditions and the available funding. ``(ii) Advanced notice.--If the Secretary adjusts the energy savings requirement, the Secretary shall provide at least 90 days advanced public notice. ``(d) Limitation.--Notwithstanding section 1702(c), the Secretary shall not issue credit support under this section in an amount that exceeds-- ``(1) 90 percent of the principal amount of the efficiency obligation that is the subject of the credit support; or ``(2) $10,000,000 for any single project. ``(e) Aggregation of Projects.--To the extent provided in the guidelines developed in accordance with subsection (c), the Secretary may issue credit support on a portfolio, or pool of projects, that are not required to be geographically contiguous, if each efficiency obligation in the pool fulfills the requirements described in this section. ``(f) Application.-- ``(1) In general.--To be eligible to receive credit support under this section, the applicant shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary determines to be necessary. ``(2) Contents.--An application submitted under this section shall include assurances by the applicant that-- ``(A) each contractor carrying out the project-- ``(i) meets minimum experience level criteria, including local retrofit experience, as determined by the Secretary; and ``(ii) beginning on the date on which credit support is issued, will comply with subchapter IV of chapter 31 of title 40, United States Code (commonly known as the ``Davis- Bacon Act''); ``(B) the project is reasonably expected to achieve energy savings, as set forth in the application using any methodology that meets the standards described in the program guidelines; ``(C) the project meets any technical criteria described in the program guidelines; ``(D) the recipient of the credit support and the parties to the efficiency obligation will provide the Secretary with-- ``(i) any information the Secretary requests to assess the energy savings that result from the project, including historical energy usage data and detailed descriptions of the building work, as described in the program guidelines; and ``(ii) permission to access information relating to building operations and usage for the period described in the program guidelines; and ``(E) any other assurances that the Secretary determines to be necessary. ``(3) Determination.--Not later than 90 days after receiving an application, the Secretary shall make a final determination on the application, which may include requests for additional information. ``(g) Fees.-- ``(1) In general.--In addition to the fees required by section 1702(h)(1), the Secretary may charge reasonable fees for credit support provided under this section. ``(2) Availability.--Fees collected under this section shall be subject to section 1702(h)(2). ``(h) Underwriting.--The Secretary may delegate the underwriting activities under this section to 1 or more entities that the Secretary determines to be qualified. ``(i) Report.--Not later than 1 year after commencement of the program, the Secretary shall submit to the appropriate committees of Congress a report that describes in reasonable detail-- ``(1) the manner in which this section is being carried out; ``(2) the number and type of projects supported; ``(3) the types of funding mechanisms used to provide credit support to projects; ``(4) the energy savings expected to result from projects supported by this section; ``(5) any tracking efforts the Secretary is using to calculate the actual energy savings produced by the projects; and ``(6) any plans to improve the tracking efforts described in paragraph (5). ``(j) Funding.-- ``(1) Authorization of appropriations.--There is authorized to be appropriated to the Secretary to carry out this section $500,000,000 for the period of fiscal years 2011 through 2020, to remain available until expended. ``(2) Administrative costs.--Not more than 1 percent of any amounts made available to the Secretary under paragraph (1) may be used by the Secretary for administrative costs incurred in carrying out this section.''. SEC. 3. MUSH BUILDING REVOLVING FUND. (a) Definitions.--In this section: (1) Project.--The term ``project'' means an energy efficiency retrofit project that meets the terms of this section and criteria determined to be necessary by the Secretary. (2) Secretary.--The term ``Secretary'' means the Secretary of Energy. (3) State.--The term ``State'' has the meaning given the term in section 412 of the Energy Conservation and Production Act (42 U.S.C. 6862). (b) Establishment.--The Secretary shall establish the MUSH Building Efficiency Program to provide grants to State revolving funds to finance projects. (c) Eligibility.--To be eligible to receive a grant under this program, a State shall have, or propose to establish, a program to finance or support building improvement projects on buildings that are owned or controlled by-- (1) a municipality; (2) a State or public university, including a community college; (3) a school or school district, including a technical school or a vocational school; and (4) a State, city, or other publicly owned hospital. (d) Terms and Conditions.-- (1) In general.--As a condition of receiving a grant under this section, a State shall-- (A) develop technical energy assessment report guidelines for each project to be carried out under this section; (B) develop procedures-- (i) to monitor energy consumption prior to, and for at least 3 years after, the completion of each project carried out using State revolving funds; (ii) to make data publicly available in aggregated summary reports regarding the performance of each project carried out using State revolving funds; and (iii) to analyze energy savings, in kilowatt hours and dollars, before and for at least 3 years after the completion of each project carried out using State revolving funds; and (C) incorporate training on audit techniques in any guidelines or procedures developed for State revolving funds that receive a grant under this section. (2) Maximum repayment term.--A State receiving a grant under this section shall not enter into any obligations with a repayment term that exceeds 15 years. (3) Conflict of interest.--A commissioning organization or individual that receives compensation for professional services relating to a project carried out under this section shall not acquire any direct or indirect financial interest in the sale of energy efficiency equipment or products that are directly related to the project. (e) Report.--Not later than 1 year after commencement of the MUSH Building Efficiency Program, the Secretary shall submit to the appropriate committees of Congress a report that-- (1) describes in detail the manner in which this section has been carried out; (2) aggregates the project performance data of the State programs receiving a grant under this section; and (3) includes any recommendations of the Secretary on modifications that may improve the grant program. (f) Authorization of Appropriations.--There are authorized to be appropriated to carry out this section such sums as are necessary. SEC. 4. ENERGY EFFICIENCY SUPPORT PROGRAM. (a) Definitions.--In this section: (1) Project.--The term ``project'' means an energy efficiency retrofit project that meets the criteria described in subsection (c). (2) Secretary.--The term ``Secretary'' means the Secretary of Energy. (b) Establishment.--The Secretary shall establish a program that provides grants to State or tribal governments to support property assessed clean energy bonds and other tax assessment-based financing mechanisms to support building retrofits that meet the criteria described in subsection (c). (c) Authorization, Terms, and Conditions.-- (1) Authorization.-- (A) In general.--In carrying out this section, the Secretary shall provide grants to capitalize loan loss reserves for property assessed clean energy bonds and other tax assessment-based financing mechanisms managed by State or tribal governments. (B) Maximum.--No eligible entity shall receive a grant under this section that exceeds a total amount of $10,000,000. (2) Eligible programs.-- (A) In general.--A grant under this section shall be used to finance building retrofit projects that are expected to produce significant energy efficiency gains. (B) Use of funds.--A State or tribal government that receives a grant under this section shall use the funds to provide credit enhancements or establish other loan loss reserve funds approved by the Secretary. (C) Conditions.--As a condition of receiving a grant under this section, a State or tribal government shall provide to the Secretary such assurances as the Secretary determines to be necessary, including assurances that the State or tribal government shall-- (i) provide support for each financing mechanism approved by the Secretary, including property assessed clean energy bonds and tax lien financing; (ii) for each project receiving financial assistance under this section, develop comprehensive procedures for-- (I) monitoring energy consumption prior to the commencement of, and at least 3 years after completion of, each project; (II) analyzing energy savings achieved, measured in kilowatt hours and dollars, prior to the commencement of, and at least 3 years after completion of, each project; and (III) making data recorded from each project publicly available in aggregated summary reports describing the performance of each project; and (D) incorporate training on audit techniques in any guidelines developed for the capital loan loss reserves. (d) Program Coordination and Aggregation.--Subject to subsection (c)(1) and approval of the Secretary, eligible State or tribal governments may combine grants provided under this section to create multijurisdictional programs to support projects that meet the requirements of this section. (e) Report.--Not later than 1 year after the commencement of the program, the Secretary shall submit to the appropriate committees of Congress a report that-- (1) describes in detail the manner in which this section has been carried out; (2) aggregates the project performance data of the State, local, and tribal government programs receiving funding under this section; and (3) includes any recommendations of the Secretary on modifications that may improve the grant program. (f) Authorization of Appropriations.--There are authorized to be appropriated to carry out this section such sums as are necessary.
summary: Recovery Through Building Renovation Act of 2010 - Amends the Energy Policy Act of 2005 to authorize the Secretary of Energy (DOE) to provide credit support for debt or repayment obligations incurred in connection with financing the installation of efficiency or renewable energy measures (efficiency obligations) in commercial, industrial, municipal, university, school, and hospital facilities. Directs the Secretary to establish guidelines for such credit support, including: (1) standards for assessing, and threshold levels for, the expected energy savings; (2) examples of financing mechanisms that qualify as efficiency obligations; (3) eligibility criteria; and (4) lien priority requirements. Requires the Secretary to prioritize: (1) the maximization of energy savings with the available credit support funding; (2) the establishment of a clear application and approval process; and (3) the distribution of projects receiving credit support across states or geographical regions. Directs the Secretary to: (1) establish an initial minimum energy savings requirement for eligible projects that results in the greatest amount of energy savings on a per project basis; and (2) annually adjust that requirement and any other credit support terms deemed necessary taking into account market conditions and available funding. Limits credit support to 90% of the principal amount of the efficiency obligation or $10 million for any single project. Authorizes the Secretary to charge reasonable fees for such credit support. Directs the Secretary to establish: (1) the MUSH Building Efficiency Program to provide grants to state revolving funds to finance energy efficiency retrofit projects for buildings that are owned or controlled by a municipality, a state or public university, a school or school district, or a publicly owned hospital; and (2) a program that provides grants to state or tribal governments to support property assessed clean energy bonds and other tax assessment-based financing mechanisms to support building retrofit projects expected to produce significant energy efficiency gains.