HR 6509 · 96th Congress · Energy
Homeowner, Tenant, and Small Business Energy Conservation Loan Program
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Banking, Finance and Urban Affairs.(1980-02-13)
Plain Language Summary
[AI summary unavailable — showing source text]
Homeowner, Tenant, and Small Business Energy Conservation Loan Program - Establishes the Energy Conservation Bank in the Department of Energy. Authorizes the Bank to make financial assistance in the form of payments to financial institutions to: (1) reduce the principal on loans made for the purpose of financing the purchase and installation of solar energy systems and energy conserving improvements in residential and small business buildings and financing solar energy programs undertaken by nonprofit groups; and (2) prepay interest otherwise due on such loans. Directs the President of the Bank to establish various levels of financial assistance to be made under such assistance program and sets forth criteria to be considered in determining assistance levels. Sets forth limitations on the amount of assistance, together with the likely value of any Federal and State solar energy or conservation tax credit, which may be made under this Act, depending on the type of building for which such assistance is to be made. Establishes criteria for the types of loans for which financial assistance may be made under this Act. Directs the Bank to promote the program established by this Act by in…
Summarized by Claude AI · Non-partisan · For informational purposes only