text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Recovery Through Building Renovation 
  Act of 2010''.
  
  SEC. 2. BUILDING EFFICIENCY RETROFIT LOAN CREDIT SUPPORT PROGRAM.
  
      Title XVII of the Energy Policy Act of 2005 (42 U.S.C. 16511 et 
  seq.) is amended by adding at the end the following:
  
  ``SEC. 1706. BUILDING RETROFIT FINANCING PROGRAM.
  
      ``(a) Definitions.--In this section:
              ``(1) Credit support.--The term `credit support' means a 
          guarantee or commitment to issue a guarantee or other forms of 
          credit enhancement to ameliorate risks for efficiency 
          obligations.
              ``(2) Efficiency obligation.--The term `efficiency 
          obligation' means a debt or repayment obligation incurred in 
          connection with financing a project, or a portfolio of such 
          debt or payment obligations.
              ``(3) Project.--The term `project' means the installation 
          of efficiency or renewable energy measures in a building (or in 
          multiple buildings on a given property) that are expected to 
          increase the energy efficiency of the building (including 
          fixtures) in accordance with criteria established by the 
          Secretary.
      ``(b) Eligible Projects.--
              ``(1) In general.--Notwithstanding sections 1703 and 1705, 
          the Secretary may provide credit support under this section, in 
          accordance with section 1702.
              ``(2) Inclusions.--Buildings eligible for credit support 
          under this section include commercial, industrial, municipal, 
          university, school, and hospital facilities that satisfy 
          criteria established by the Secretary.
      ``(c) Guidelines.--
              ``(1) In general.--Not later than 180 days after the date 
          of enactment of this section, the Secretary shall establish 
          guidelines for credit support provided under this section.
              ``(2) Requirements.--The guidelines established by the 
          Secretary under this subsection shall include--
                      ``(A) standards for assessing the energy savings 
                  that could reasonably be expected to result from a 
                  project;
                      ``(B) examples of financing mechanisms (and 
                  portfolios of such financing mechanisms) that qualify 
                  as efficiency obligations;
                      ``(C) the threshold levels of energy savings that a 
                  project, at the time of issuance of credit support, 
                  shall be reasonably expected to achieve to be eligible 
                  for credit support;
                      ``(D) the eligibility criteria the Secretary 
                  determines to be necessary for making credit support 
                  available under this section; and
                      ``(E) any lien priority requirements that the 
                  Secretary determines to be necessary.
              ``(3) Efficiency obligations.--The financing mechanisms 
          qualified by the Secretary under paragraph (2)(B) may include--
                      ``(A) loans, including loans made by the Federal 
                  Financing Bank;
                      ``(B) power purchase agreements, including energy 
                  efficiency power purchase agreements;
                      ``(C) energy services agreements, including energy 
                  performance contracts;
                      ``(D) property assessed clean energy bonds and 
                  other tax assessment-based financing mechanisms;
                      ``(E) aggregate on-meter agreements that finance 
                  retrofit projects; and
                      ``(F) any other efficiency obligations the 
                  Secretary determines to be appropriate.
              ``(4) Priorities.--In carrying out this section, the 
          Secretary shall prioritize--
                      ``(A) the maximization of energy savings with the 
                  available credit support funding;
                      ``(B) the establishment of a clear application and 
                  approval process that allows private building owners, 
                  lenders, and investors to reasonably expect to receive 
                  credit support for projects that conform to guidelines; 
                  and
                      ``(C) the distribution of projects receiving credit 
                  support under this section across States or 
                  geographical regions of the United States.
              ``(5) Minimum energy savings requirement.--
                      ``(A) In general.--In carrying out this section, 
                  the Secretary shall establish an initial minimum energy 
                  savings requirement for eligible projects that, to the 
                  maximum extent practicable, results in the greatest 
                  amount of energy savings on a per project basis.
                      ``(B) Adjustments.--
                              ``(i) In general.--Not less than once each 
                          year, the Secretary shall adjust the minimum 
                          energy savings requirement described in 
                          subparagraph (A) and any other credit support 
                          terms the Secretary determines to be necessary, 
                          including the maximum percentage of the 
                          efficiency obligation that may be guaranteed, 
                          taking into account market conditions and the 
                          available funding.
                              ``(ii) Advanced notice.--If the Secretary 
                          adjusts the energy savings requirement, the 
                          Secretary shall provide at least 90 days 
                          advanced public notice.
      ``(d) Limitation.--Notwithstanding section 1702(c), the Secretary 
  shall not issue credit support under this section in an amount that 
  exceeds--
              ``(1) 90 percent of the principal amount of the efficiency 
          obligation that is the subject of the credit support; or
              ``(2) $10,000,000 for any single project.
      ``(e) Aggregation of Projects.--To the extent provided in the 
  guidelines developed in accordance with subsection (c), the Secretary 
  may issue credit support on a portfolio, or pool of projects, that are 
  not required to be geographically contiguous, if each efficiency 
  obligation in the pool fulfills the requirements described in this 
  section.
      ``(f) Application.--
              ``(1) In general.--To be eligible to receive credit support 
          under this section, the applicant shall submit to the Secretary 
          an application at such time, in such manner, and containing 
          such information as the Secretary determines to be necessary.
              ``(2) Contents.--An application submitted under this 
          section shall include assurances by the applicant that--
                      ``(A) each contractor carrying out the project--
                              ``(i) meets minimum experience level 
                          criteria, including local retrofit experience, 
                          as determined by the Secretary; and
                              ``(ii) beginning on the date on which 
                          credit support is issued, will comply with 
                          subchapter IV of chapter 31 of title 40, United 
                          States Code (commonly known as the ``Davis-
                          Bacon Act'');
                      ``(B) the project is reasonably expected to achieve 
                  energy savings, as set forth in the application using 
                  any methodology that meets the standards described in 
                  the program guidelines;
                      ``(C) the project meets any technical criteria 
                  described in the program guidelines;
                      ``(D) the recipient of the credit support and the 
                  parties to the efficiency obligation will provide the 
                  Secretary with--
                              ``(i) any information the Secretary 
                          requests to assess the energy savings that 
                          result from the project, including historical 
                          energy usage data and detailed descriptions of 
                          the building work, as described in the program 
                          guidelines; and
                              ``(ii) permission to access information 
                          relating to building operations and usage for 
                          the period described in the program guidelines; 
                          and
                      ``(E) any other assurances that the Secretary 
                  determines to be necessary.
              ``(3) Determination.--Not later than 90 days after 
          receiving an application, the Secretary shall make a final 
          determination on the application, which may include requests 
          for additional information.
      ``(g) Fees.--
              ``(1) In general.--In addition to the fees required by 
          section 1702(h)(1), the Secretary may charge reasonable fees 
          for credit support provided under this section.
              ``(2) Availability.--Fees collected under this section 
          shall be subject to section 1702(h)(2).
      ``(h) Underwriting.--The Secretary may delegate the underwriting 
  activities under this section to 1 or more entities that the Secretary 
  determines to be qualified.
      ``(i) Report.--Not later than 1 year after commencement of the 
  program, the Secretary shall submit to the appropriate committees of 
  Congress a report that describes in reasonable detail--
              ``(1) the manner in which this section is being carried 
          out;
              ``(2) the number and type of projects supported;
              ``(3) the types of funding mechanisms used to provide 
          credit support to projects;
              ``(4) the energy savings expected to result from projects 
          supported by this section;
              ``(5) any tracking efforts the Secretary is using to 
          calculate the actual energy savings produced by the projects; 
          and
              ``(6) any plans to improve the tracking efforts described 
          in paragraph (5).
      ``(j) Funding.--
              ``(1) Authorization of appropriations.--There is authorized 
          to be appropriated to the Secretary to carry out this section 
          $500,000,000 for the period of fiscal years 2011 through 2020, 
          to remain available until expended.
              ``(2) Administrative costs.--Not more than 1 percent of any 
          amounts made available to the Secretary under paragraph (1) may 
          be used by the Secretary for administrative costs incurred in 
          carrying out this section.''.
  
  SEC. 3. MUSH BUILDING REVOLVING FUND.
  
      (a) Definitions.--In this section:
              (1) Project.--The term ``project'' means an energy 
          efficiency retrofit project that meets the terms of this 
          section and criteria determined to be necessary by the 
          Secretary.
              (2) Secretary.--The term ``Secretary'' means the Secretary 
          of Energy.
              (3) State.--The term ``State'' has the meaning given the 
          term in section 412 of the Energy Conservation and Production 
          Act (42 U.S.C. 6862).
      (b) Establishment.--The Secretary shall establish the MUSH Building 
  Efficiency Program to provide grants to State revolving funds to 
  finance projects.
      (c) Eligibility.--To be eligible to receive a grant under this 
  program, a State shall have, or propose to establish, a program to 
  finance or support building improvement projects on buildings that are 
  owned or controlled by--
              (1) a municipality;
              (2) a State or public university, including a community 
          college;
              (3) a school or school district, including a technical 
          school or a vocational school; and
              (4) a State, city, or other publicly owned hospital.
      (d) Terms and Conditions.--
              (1) In general.--As a condition of receiving a grant under 
          this section, a State shall--
                      (A) develop technical energy assessment report 
                  guidelines for each project to be carried out under 
                  this section;
                      (B) develop procedures--
                              (i) to monitor energy consumption prior to, 
                          and for at least 3 years after, the completion 
                          of each project carried out using State 
                          revolving funds;
                              (ii) to make data publicly available in 
                          aggregated summary reports regarding the 
                          performance of each project carried out using 
                          State revolving funds; and
                              (iii) to analyze energy savings, in 
                          kilowatt hours and dollars, before and for at 
                          least 3 years after the completion of each 
                          project carried out using State revolving 
                          funds; and
                      (C) incorporate training on audit techniques in any 
                  guidelines or procedures developed for State revolving 
                  funds that receive a grant under this section.
              (2) Maximum repayment term.--A State receiving a grant 
          under this section shall not enter into any obligations with a 
          repayment term that exceeds 15 years.
              (3) Conflict of interest.--A commissioning organization or 
          individual that receives compensation for professional services 
          relating to a project carried out under this section shall not 
          acquire any direct or indirect financial interest in the sale 
          of energy efficiency equipment or products that are directly 
          related to the project.
      (e) Report.--Not later than 1 year after commencement of the MUSH 
  Building Efficiency Program, the Secretary shall submit to the 
  appropriate committees of Congress a report that--
              (1) describes in detail the manner in which this section 
          has been carried out;
              (2) aggregates the project performance data of the State 
          programs receiving a grant under this section; and
              (3) includes any recommendations of the Secretary on 
          modifications that may improve the grant program.
      (f) Authorization of Appropriations.--There are authorized to be 
  appropriated to carry out this section such sums as are necessary.
  
  SEC. 4. ENERGY EFFICIENCY SUPPORT PROGRAM.
  
      (a) Definitions.--In this section:
              (1) Project.--The term ``project'' means an energy 
          efficiency retrofit project that meets the criteria described 
          in subsection (c).
              (2) Secretary.--The term ``Secretary'' means the Secretary 
          of Energy.
      (b) Establishment.--The Secretary shall establish a program that 
  provides grants to State or tribal governments to support property 
  assessed clean energy bonds and other tax assessment-based financing 
  mechanisms to support building retrofits that meet the criteria 
  described in subsection (c).
      (c) Authorization, Terms, and Conditions.--
              (1) Authorization.--
                      (A) In general.--In carrying out this section, the 
                  Secretary shall provide grants to capitalize loan loss 
                  reserves for property assessed clean energy bonds and 
                  other tax assessment-based financing mechanisms managed 
                  by State or tribal governments.
                      (B) Maximum.--No eligible entity shall receive a 
                  grant under this section that exceeds a total amount of 
                  $10,000,000.
              (2) Eligible programs.--
                      (A) In general.--A grant under this section shall 
                  be used to finance building retrofit projects that are 
                  expected to produce significant energy efficiency 
                  gains.
                      (B) Use of funds.--A State or tribal government 
                  that receives a grant under this section shall use the 
                  funds to provide credit enhancements or establish other 
                  loan loss reserve funds approved by the Secretary.
                      (C) Conditions.--As a condition of receiving a 
                  grant under this section, a State or tribal government 
                  shall provide to the Secretary such assurances as the 
                  Secretary determines to be necessary, including 
                  assurances that the State or tribal government shall--
                              (i) provide support for each financing 
                          mechanism approved by the Secretary, including 
                          property assessed clean energy bonds and tax 
                          lien financing;
                              (ii) for each project receiving financial 
                          assistance under this section, develop 
                          comprehensive procedures for--
                                      (I) monitoring energy consumption 
                                  prior to the commencement of, and at 
                                  least 3 years after completion of, each 
                                  project;
                                      (II) analyzing energy savings 
                                  achieved, measured in kilowatt hours 
                                  and dollars, prior to the commencement 
                                  of, and at least 3 years after 
                                  completion of, each project; and
                                      (III) making data recorded from 
                                  each project publicly available in 
                                  aggregated summary reports describing 
                                  the performance of each project; and
                      (D) incorporate training on audit techniques in any 
                  guidelines developed for the capital loan loss 
                  reserves.
      (d) Program Coordination and Aggregation.--Subject to subsection 
  (c)(1) and approval of the Secretary, eligible State or tribal 
  governments may combine grants provided under this section to create 
  multijurisdictional programs to support projects that meet the 
  requirements of this section.
      (e) Report.--Not later than 1 year after the commencement of the 
  program, the Secretary shall submit to the appropriate committees of 
  Congress a report that--
              (1) describes in detail the manner in which this section 
          has been carried out;
              (2) aggregates the project performance data of the State, 
          local, and tribal government programs receiving funding under 
          this section; and
              (3) includes any recommendations of the Secretary on 
          modifications that may improve the grant program.
      (f) Authorization of Appropriations.--There are authorized to be 
  appropriated to carry out this section such sums as are necessary.
target: Recovery Through Building Renovation Act of 2010 - Amends the Energy Policy Act of 2005 to authorize the Secretary of Energy (DOE) to provide credit support for debt or repayment obligations incurred in connection with financing the installation of efficiency or renewable energy measures (efficiency obligations) in commercial, industrial, municipal, university, school, and hospital facilities.
  
  Directs the Secretary to establish guidelines for such credit support, including: (1) standards for assessing, and threshold levels for, the expected energy savings; (2) examples of financing mechanisms that qualify as efficiency obligations; (3) eligibility criteria; and (4) lien priority requirements. Requires the Secretary to prioritize: (1) the maximization of energy savings with the available credit support funding; (2) the establishment of a clear application and approval process; and (3) the distribution of projects receiving credit support across states or geographical regions.
  
  Directs the Secretary to: (1) establish an initial minimum energy savings requirement for eligible projects that results in the greatest amount of energy savings on a per project basis; and (2) annually adjust that requirement and any other credit support terms deemed necessary taking into account market conditions and available funding. Limits credit support to 90% of the principal amount of the efficiency obligation or $10 million for any single project. Authorizes the Secretary to charge reasonable fees for such credit support.
  
  Directs the Secretary to establish: (1) the MUSH Building Efficiency Program to provide grants to state revolving funds to finance energy efficiency retrofit projects for buildings that are owned or controlled by a municipality, a state or public university, a school or school district, or a publicly owned hospital; and (2) a program that provides grants to state or tribal governments to support property assessed clean energy bonds and other tax assessment-based financing mechanisms to support building retrofit projects expected to produce significant energy efficiency gains.
feat_title: A bill to establish a building efficiency retrofit loan credit support program, a State building revolving fund grant program, and a commercial and large building grant program.