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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - Senate

Short Titles as Introduced

REAL Act of 2010
Renewable Energey Access Through Leasing Act of 2010

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to encourage residential use of renewable energy systems by minimizing upfront costs and providing immediate utility cost savings to consumers through leasing of such systems to homeowners, and for other purposes.

Actions Overview (1)

Date Actions Overview
05/24/2010Introduced in Senate

All Actions (1)

Date All Actions
05/24/2010Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Action By: Senate

Cosponsors (2)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Alexander, Lamar [R-TN] 08/03/2010
Sen. Whitehouse, Sheldon [D-RI] 09/23/2010

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Banking, Housing, and Urban Affairs05/24/2010 Referred to

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Latest Summary (1)

There is one summary for S.3402. View summaries

Shown Here:
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.