All Information (Except Text) for S.3402 - REAL Act of 2010111th Congress (2009-2010)
|Sponsor:||Sen. LeMieux, George S. [R-FL] (Introduced 05/24/2010)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 05/24/2010 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Titles as Introduced
REAL Act of 2010
Renewable Energey Access Through Leasing Act of 2010
Actions Overview (1)
|05/24/2010||Introduced in Senate|
05/24/2010 Introduced in Senate
All Actions (1)
|05/24/2010||Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.|
Action By: Senate
05/24/2010 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
|Sen. Alexander, Lamar [R-TN]||08/03/2010|
|Sen. Whitehouse, Sheldon [D-RI]||09/23/2010|
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Banking, Housing, and Urban Affairs||05/24/2010||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
Introduced in Senate (05/24/2010)
Renewable Energy Access Through Leasing Act of 2010 or the REAL Act of 2010- Authorizes the Secretary of Housing and Urban Development (HUD) to make loan guarantees for the financing of renewable energy systems leased for residential use. Prohibits the Secretary from insuring a loan unless the renewable energy system owner certifies that the systems financed will be leased only to homeowners that grant easements to install, maintain, use and otherwise access the system that include the right to sell electricity produced during the life of the renewable energy system to a wholesale or retail electrical power grid.
Requires the Secretary to: (1) ensure that a discount given under this Act does not adversely affect the homeowner's mortgage requirements; and (2) fix and collect premiums for insurance of loans under this Act that shall be paid for by the renewable energy system owner and that shall be adequate to cover the expenses and probable losses of administering the program. Prohibits the Secretary from assessing any other fee, premium, or charge in connection with such loan insurance.
Establishes the Renewable Energy Lease Insurance Fund, into which the Secretary shall deposit any such premiums.
Terminates the Secretary's authority to insure and make commitments to insure new loans under this Act ten years after its enactment.