On June 6, 2013, Senators Bennet (D-CO) and Isakson (R-GA) introduced S. 1106, the “Sensible Accounting to Value Energy (SAVE) Act”. The bill is an attempt to develop standards for valuing energy efficiency in the appraisal and mortgage underwriting processes.
For over two years, NAR has worked with the staffs of the sponsoring Senate offices, the Institute for Market Transformation (IMT), and the Leading Builders of America to craft a bill that encourages the use of energy efficient products and materials in both new and existing homes. The Association was conscious of the potential impact on older homes and worked vigorously to ensure that the proposed legislation did not stigmatize or disadvantage them in any way.
NAR applauds the Senators continued efforts to ensure that housing is affordable, and to promote the use of energy efficient products and materials as a means keep housing costs reasonable. Enclosed is a link to NAR’s letter that thanks the Senators for introducing the legislation.