PACE Assessment Protection Act of 2011
Latest action · Aug 22, 2011 Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 20, 2011
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
PACE Assessment Protection Act of 2011 - Requires the Director of the Federal Housing Agency (FHA) to direct the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to issue guidance providing that the levy of a PACE (property assessed clean energy) assessment and the creation of a PACE lien do not constitute a default on any loan secured by one of its uniform instruments, and do not trigger the exercise of remedies with respect to any provision of the instrument, if the PACE assessment and the PACE lien meet specified requirements.
Lists as PACE improvements any qualified clean energy improvements, energy conservation and efficiency improvements, and water conservation and efficiency improvements.
Prohibits the FHA Director, the Comptroller of the Currency, Fannie Mae, Freddie Mac, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System, and all federal agencies and entities chartered or otherwise established under federal law from discriminating in any manner against state or local governments implementing or participating in a PACE program, or against any property that is obligated to pay a PACE assessment or is subject to a PACE lien.
Specifies requirements a PACE program, and any related PACE assessment and PACE lien, must meet to be entitled to the protections of this Act.
Details obligations of property owners with respect to PACE assessments, and requires the local government to disclose to the participating property owner the costs and risk associated with participating in the PACE program.
Prescribes requirements for: (1) non-residential properties; and (2) qualifying PACE improvements, qualifying contractors, and financing terms for residential properties.
Limits the total amount of PACE assessments for a property to 10% of its estimated value. Requires the property owner to have equity in the property of at least 15%.
Cosponsors 54
Members who signed on, in the order they did. Signatures ran from Jul 20, 2011 to Jun 7, 2012; 14 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-TX | Bill Flores | Original | Jul 20, 2011 |
| R-CA | Daniel E. Lungren | Original | Jul 20, 2011 |
| R-IL | Donald A. Manzullo | Original | Jul 20, 2011 |
| D-CA | Doris O. Matsui | Original | Jul 20, 2011 |
| D-CO | Ed Perlmutter | Original | Jul 20, 2011 |
| R-WI | F. James Sensenbrenner, Jr. | Original | Jul 20, 2011 |
| D-CO | Jared Polis | Original | Jul 20, 2011 |
| D-CA | Lois Capps | Original | Jul 20, 2011 |
| D-CA | Lynn C. Woolsey | Original | Jul 20, 2011 |
| D-CA | Mike Thompson | Original | Jul 20, 2011 |
| R-TX | Pete Sessions | Original | Jul 20, 2011 |
| R-NY | Richard L. Hanna | Original | Jul 20, 2011 |
| R-IL | Robert J. Dold | Original | Jul 20, 2011 |
| R-OK | Tom Cole | Original | Jul 20, 2011 |
| R-FL | Ileana Ros-Lehtinen | Jul 28, 2011 | |
| R-TX | Lamar Smith | Jul 28, 2011 | |
| D-NY | Maurice D. Hinchey | Jul 28, 2011 | |
| D-NY | Nita M. Lowey | Jul 28, 2011 | |
| R-NY | Peter T. King | Jul 28, 2011 | |
| R-FL | Steve Southerland II | Jul 28, 2011 | |
| R-FL | Allen B. West | Aug 1, 2011 | |
| D-CA | Susan A. Davis | Aug 1, 2011 | |
| D-CA | Adam B. Schiff | Oct 6, 2011 | |
| D-CA | Bob Filner | Oct 6, 2011 | |
| R-CA | Brian P. Bilbray | Oct 6, 2011 | |
| D-CO | Diana DeGette | Oct 6, 2011 | |
| D-CA | Fortney Pete Stark | Oct 6, 2011 | |
| D-CA | George Miller | Oct 6, 2011 | |
| D-CA | Jackie Speier | Oct 6, 2011 | |
| D-CA | Jim Costa | Oct 6, 2011 | |
| D-CA | Joe Baca | Oct 6, 2011 | |
| R-CA | John Campbell | Oct 6, 2011 | |
| D-CA | John Garamendi | Oct 6, 2011 | |
| D-MD | John P. Sarbanes | Oct 6, 2011 | |
| R-FL | Mario Diaz-Balart | Oct 6, 2011 | |
| D-HI | Mazie K. Hirono | Oct 6, 2011 | |
| D-CA | Michael M. Honda | Oct 6, 2011 | |
| D-MO | Russ Carnahan | Oct 6, 2011 | |
| D-CA | Zoe Lofgren | Oct 6, 2011 | |
| R-CA | Mary Bono | Oct 25, 2011 | |
| D-CA | Anna G. Eshoo | Nov 4, 2011 | |
| D-NM | Ben Ray Luján | Nov 4, 2011 | |
| R-FL | C. W. Bill Young | Nov 4, 2011 | |
| R-PA | Michael G. Fitzpatrick | Nov 4, 2011 | |
| D-NC | Mike McIntyre | Nov 4, 2011 | |
| D-MI | Sander M. Levin | Nov 4, 2011 | |
| R-FL | Thomas J. Rooney | Nov 4, 2011 | |
| D-MO | Wm. Lacy Clay | Nov 4, 2011 | |
| R-IL | Adam Kinzinger | Dec 6, 2011 | |
| D-FL | Alcee L. Hastings | Dec 6, 2011 | |
| D-CA | Jerry McNerney | Dec 6, 2011 | |
| D-MI | John Conyers, Jr. | Mar 29, 2012 | |
| R-CA | Ken Calvert | Mar 29, 2012 | |
| D-VA | James P. Moran | Jun 7, 2012 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jul 20, 2011 |
| Capital Markets Subcommittee | Referred Aug 22, 2011 | |
| Housing and Insurance Subcommittee | Referred Aug 22, 2011 |
Actions 4
Everything that happened, newest first.
- Aug 22, 2011Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
- Aug 22, 2011Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
- Jul 20, 2011Introduced in House
- Jul 20, 2011Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H5285.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| S. Hrg. 112-528 | ENERGY EFFICIENT BUILDING RETROFITS88 pages | Energy and Natural Resources Committee | Jun 28, 2012 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To prevent Fannie Mae, Freddie Mac, and other Federal residential and commercial mortgage lending regulators from adopting policies that contravene established State and local property assessed clean energy laws.
- Short Titles as Introduced
- PACE Assessment Protection Act of 2011
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
- Alternative and renewable resources
- Banking and financial institutions regulation
- Energy efficiency and conservation
- Housing and Community Development
- Housing finance and home ownership
- Intergovernmental relations
- Residential rehabilitation and home repair
- State and local government operations
- State and local taxation
- Water use and supply
Text 1
Each version as it was printed, newest first.
- Jul 20, 2011Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
