Senate Passes Energy Bill

This week, the Senate passed S. 2012, the U.S. Energy Modernization Act, and now the bill heads to a conference with the House energy bill, H.R. 8, to reconcile both pieces of legislation before it can get to the President’s desk for a signature.  Two provisions important items you should know about:  (1) The SAVE Act would allow federal mortgage underwriters, such as Fannie Mae and Freddie Mac, to consider the energy savings from efficiency upgrades when determining a homebuyer’s ability to make payments. (2) The bill permanently reauthorizes the Land and Water Conservation fund, which acquires land from willing sellers to create parks, greenways and other outdoor recreational spaces. The provision also reforms the program by redirecting more funds to non-federal and private land acquisition programs.