VAR has received numerous forwarded e-mails concerning information on the Internet that H.R. 2454, the American Clean Energy and Security Act (often called the "Cap and Trade Bill"), will require homeowners to comply with government-mandated energy and water efficiency standards before they can sell their properties.
The most common message in circulation also says, in part, that H.R. 2454 will prevent owners from selling homes without the permission from the Environmental Protection Agency, and obtaining this permission will first require retrofitting to meet standards set by the bill.
We want to assure VAR members and your clients that these allegations are inaccurate and misleading. They are based on an earlier version of the bill before NAR prevailed in having possibly detrimental provisions deleted from H.R. 2454 before the House of Representatives voted on it.
The real estate provisions in H.R. 2454 comprise about 50 pages of the entire 1,428-page bill. Focusing its efforts on these 50 pages, NAR successfully advocated for significant improvements. As it passed the House on June 26, there are no federal energy audit or retrofit requirements at point of sale.
The bill is now before the U.S. Senate. At this time, we do not know when it may be acted upon there.
For further information, please right-click this link to download the NAR Information Pack containing several documents, including a legislative analysis and a "Myths and Facts" sheet about the bill. We hope this will help put to rest unfounded concerns resulting from any misunderstanding of the current provisions of H.R. 2454.
The NAR staff in Washington has been, and will continue to be, active in every aspect of this legislation in order to protect the best interests of Realtors and homeowners.