Recently there has been an email circulating that has freaked a lot of you out – which would be the appropriate reaction IF IT WERE TRUE!
It’s usually titled ‘Listen Up Homeowners’ or ‘No More Home Sales’ or something equally sinister.
Here’s the scoop – that email has been circulating since last summer when the American Clean Energy & Security Act (also known as the Cap & Trade bill) was still in the House in DC. In the initial bill there were provisions for point-of-sale mandates that were almost as frightening as what that email claims.
The National Association of Realtor® worked extremely hard to get that portion of the bill removed – and we were successful!
Here is the story and an excerpt from Realtor.org:
Overall, REALTORS® succeeded in making a number of positive changes affecting the real estate provisions of the bill. The House-approved bill:
- Does not create a federal energy audit requirement for real property;
- Exempts existing homes and buildings 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.
And while the bill did indeed pass the House, it has all but died in the Senate. It has been sitting there for nearly a year with no action and, according to NAR, its chances of passage are slim at best. It is an onerous bill comparable to California’s AB32 in many respects. But while California races ahead with implementing this disastrous legislation, there is no such sentiment in Washington.
So thank you for bringing this to our attention but fear not. The federal government may be doing all it can to keep the housing market in turmoil but this isn’t one of them. Feel free to pass this information along to any of your friends or clients who may have questions on this matter.