Description:
S. 720 would amend current law and authorize appropriations for a variety activities and programs related to energy efficiency. The bill would require federal agencies that guarantee mortgages to consider whether homes with energy-efficient improvements would affect borrowers’ ability to repay mortgages. The bill also would modify certain energy-related goals and requirements for federal agencies.
CBO estimates that enacting S. 720 would increase direct spending by $15 million over the 2016-2025 period; therefore, pay-as-you-go procedures apply. Enacting the bill would not affect revenues. In addition, CBO estimates that implementing the legislation would cost $218 million over the next five years, assuming appropriation actions consistent with the legislation.
CBO estimates that enacting S. 720 would not increase on-budget deficits or net direct spending by more than $5 billion in any of the four consecutive 10-year periods beginning in 2026.
S. 720 would impose an intergovernmental mandate, as defined in the Unfunded Mandates Reform Act (UMRA), by requiring states and tribal governments to certify to the Department of Energy (DOE) whether or not they have updated residential and commercial building codes to meet the latest standards developed by building efficiency organizations. CBO estimates that the cost of that mandate would fall well below the annual threshold established in UMRA for intergovernmental mandates ($77 million in 2015, adjusted annually for inflation.)
This bill contains no private-sector mandates as defined in UMRA.
