S. 3402 · 111th Congress
REAL Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
LeMieuxSponsor2 cosponsors · 1 D, 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in Senate · May 24, 2010
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: REAL Act of 2010
Also known as: Renewable Energey Access Through Leasing Act of 2010
Latest action (May 24, 2010): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Housing and Community Development · Origin: Senate · Introduced: May 24, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.