Washington, DC (June 11, 2007)- A bill recently passed by the House of Representatives (H.R. 1427) that strengthens the federal financial oversight of Fannie Mae and Freddie Mac includes a provision giving the companies extra credit toward meeting their affordable housing goals for purchasing mortgages on properties that are energy efficient or otherwise environmentally sustainable.
The bill could start to mainstream mortgage products that recognize and encourage more sustainable homes and developments. It is unclear whether the Senate will pass a Fannie Mae/Freddie Mac reform bill this year. Nevertheless, the House bill marks an important step in establishing a green policy in the legislative framework.
Congress is developing energy and affordable housing tax bills that could contain incentives for energy efficient affordable housing. ACT is working with House and Senate leaders to develop proposals for inclusion in these bills.
House Ways and Means Committee