Sec. 40006. Improving energy efficiency or water efficiency or climate resilience of affordable housing
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In addition to amounts otherwise available, there is appropriated to the Secretary of Housing and Urban Development (in this section referred to as the Secretary ) for fiscal year 2022, out of any money in the Treasury not otherwise appropriated— $1,770,000,000, to remain available until September 30, 2028, for the cost of providing direct loans, including the costs of modifying such loans, and for grants, as provided for and subject to terms and conditions in subsection (b), including to subsidize gross obligations for the principal amount of direct loans, not to exceed $4,000,000,000, to fund projects that improve the energy or water efficiency, indoor air quality and sustainability improvements, implement low-emission technologies, materials, or processes, including zero-emission electricity generation, energy storage, or building electrification, electric car charging station installations, or address climate resilience of multifamily properties; $25,000,000, to remain available until September 30, 2030, for the costs to the Secretary of administering and overseeing the implementation of this section, including information technology, financial reporting, research and evaluation, other cross-program costs in support of programs administered by the Secretary in this title, and other costs; $120,000,000, to remain available until September 30, 2029, for expenses of contracts administered by the Secretary, including to carry out property climate risk, energy, or water assessments, due diligence, and underwriting functions for such grant and direct loan program; and $85,000,000, to remain available until September 30, 2028, for energy and water benchmarking of properties eligible to receive grants or loans under this section, regardless of whether they actually received such grants, along with associated data analysis and evaluation at the property and portfolio level, including the development of information technology systems necessary for the collection, evaluation, and analysis of such data.
Amounts made available under this section shall be for direct loans, grants, and direct loans that can be converted to grants to eligible recipients that agree to an extended period of affordability for the property. As used in this section— the term eligible recipient means any owner or sponsor of an eligible property; and the term eligible property means a property receiving project-based assistance pursuant to— section 202 of the Housing Act of 1959 ( 12 U.S.C. 1701q ); section 811 of the Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 8013 ); or section 8(b) of the United States Housing Act of 1937 ( 42 U.S.C. 1437f(b) ) The Secretary may waive or specify alternative requirements for any provision of subsection
(c)or
(bb)of section 8 of the United States Housing Act of 1937 ( 42 U.S.C. 1437f(c) , 1437f(bb)) upon a finding that the waiver or alternative requirement is necessary to facilitate the use of amounts made available under this section. The Secretary shall have authority to issue such regulations, notices, or other guidance, forms, instructions, and publications to carry out the programs, projects, or activities authorized under this section to ensure that such programs, projects, or activities are completed in a timely and effective manner.
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Sec. 40006
Improving energy efficiency or water efficiency or climate resilience of affordable housing
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