Bill DetailsOfficial information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Causes will update some legislation with a revised summary, title or other key elements.
Pay For Success Affordable Housing Energy Modernization Act of 2014
To authorize the Secretary of Housing and Urban Development to carry out a demonstration program to enter into budget-neutral, performance-based contracts for energy and water conservation improvements for multifamily residential units.
Pay For Success Affordable Housing Energy Modernization Act of 2014 - Directs the Secretary of Housing and Urban Development (HUD) to establish a demonstration program under which, between enactment of this Act and September 30, 2017, the Secretary may enter into budget-neutral, performance-based agreements (for up to 12 years each) that result in a reduction in energy or water costs with appropriate entities to carry out projects for energy or water conservation improvements at up to 20,000 residential units in multifamily buildings participating in: Section 8 project-based rental assistance programs under the United States Housing Act of 1937, other than Section 8 (voucher program) assistance; supportive housing for the elderly programs under the Housing Act of 1959; or supportive housing for persons with disabilities programs under the Cranston-Gonzalez National Affordable Housing Act. Specifies requirements for payment under an agreement, which shall be contingent on documented utility savings, as well as for eligibility, geographical diversity, and funding for the program. Requires the Secretary to submit to specified congressional committees a detailed plan for the implementation of this Act.
- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Financial ServicesIntroducedJuly 14th, 2014
- house Committees