"Green" Sections removed from the Housing Bill, replaced with the "Green Act of 2008" (Amy Rosenthal)

The recent passage of the housing bill brings relief to those suffering from foreclosure, but recent changes to the bill bring disappointment on the clean energy front. Title X of the bill, passed in the House then struck down in the Senate, was not included in the final version of the bill which recently emerged from conference. Title X included key tax incentives for energy efficiency, such as tax incentives for the production of clean energy from solar and geothermal processes, as well as tax incentives for incorporating efficient energy usage in housing. It extended tax credit for new energy efficient homes through 2010, and extended the tax credit for energy efficient appliances, such as dishwashers and refrigerators, through 2009.

All is not quiet on the clean energy front, however. While the housing bill might serve as a setback, another bill titled the GREEN Act of 2008, sponsored by Colorado Representative Ed Perlmutter and 41 other co-sponsors, focuses on providing incentives to green building. This bill includes an overhaul of the current energy efficient mortgage process to help provide oversight for the current program, as well as expand it. The bill also expands regulations on energy efficiency in building, and provides community reinvestment aid for supporting energy efficient housing.

Amy Rosenthal