Cap & Trade Bill (banks, percentage, prices, construction)

[HappyTexan]

I didn't read the original bill and only up to page 120 of that 300 page amendment but there does seem to be a lot of language regarding green building, energy efficient, water efficient homes.

Residential and commercial are kept separate with separate requirements/rebates/fees.

I only remember the exact fee for going solar as I specifically looked for some break for moving to solar.

Residential Federal permit fee is $500 if you plan to go solar.
Commercial Federal permit fee is $10,000 if you plan to go solar.
What they didn't specify is if you do it piecemeal..do you have to pay $500 each time you add on to your system ?

HUD and low income housing also have these regulations but there are generous rebates to keep the costs the same as before this bill passed.

[Poltracker]

Originally Posted by HappyTexan

I didn't read the original bill and only up to page 120 of that 300 page amendment but there does seem to be a lot of language regarding green building, energy efficient, water efficient homes.

Residential and commercial are kept separate with separate requirements/rebates/fees.

I only remember the exact fee for going solar as I specifically looked for some break for moving to solar.

Residential Federal permit fee is $500 if you plan to go solar.
Commercial Federal permit fee is $10,000 if you plan to go solar.
What they didn't specify is if you do it piecemeal..do you have to pay $500 each time you add on to your system ?

HUD and low income housing also have these regulations but there are generous rebates to keep the costs the same as before this bill passed.

Ah!!! so they get you at both ends...first your house has to be energy rated and possibly upgraded to meet standards before you can sell it, in order to do these upgrades you will have to pay a hefty fee (instead of a tax incentive like now), on top of all this, your taxes are still going up. How are folks going through short sells going to deal with this? or for that matter, lower income folks like me with older, less efficient (expensive) homes? I certainly could not afford the 15-30K it would take to upgrade the appliances and windows (depends on including AC/Heat). The house is not even worth it (<100K). Bet you will see even more foreclosures that end up sitting empty or are torn down, the bank sure as heck is not going to pay for the upgrades. Maybe this all goes with that theory of one of the President's advisors about tearing down blighted neighborhoods and returning them to nature.
In any case, I bet landfills are a good investment about now.

[vec101]

Came to this forum looking for more info. So far have found:

Want to replace a window? Not so fast. First you must pay for an appraisal of your house to measure its energy efficiency and receive calculations of both before and after the proposed change....
Under some of these provisions you won’t be able to sell your house. Limitless Theft of Taxpayers' Money and Freedom in Waxman Markey Cap and Trade Bill | NCW Real Estate Blog

Finding info on new builds but having hard time finding info on "sell your house" requirements.

The bill would give the federal government power over local building codes. It requires that by 2012 codes must require that new buildings be 30 percent more efficient than they would have been under current regulations. By 2016, that figure rises to 50 percent, with increases scheduled for years after that. The Waxman-Markey Cap and Trade Bill Will Control Housing Standards : The Real Estate Bloggers

[vec101]

have found:

Mark Levin just read of some things in the bill and OMG!
You CANNOT SELL YOUR HOUSE until it passes an energy efficiency inspection!!
Update 12: Economic Action Alert: Blue Dogs roll over: Waxman-Markey Climate Carbon Cap Bill headed to House floor today: Call Your Critters… « Moderate in the Middle

[HappyTexan]

Can you hear the whizzing of home prices shooting down ?

[CVAlicia]

When would this be effective?! Immediately? Next year? 2012?

[Lincolnian]

Where is the outrage? Are there any organized efforts to prevent senate approval of this bill?

[vec101]

There is more than 100 pages of the admendment dealing with housing, but can't determine if it is all or govt housing, etc.
Not being a lawyer/politician, I' not sure HOW to interpret some of the things in the bill. However, page 155 is of particular interest.

‘‘(2) that such appraisals be performed in acco

rdance with appraisal standards that require, in

determining the value of a property, consideration of any renewable energy sources for, or energy efficiency or energy-conserving improvements or features of, the property; and’’. http://www.johnboehner.house.gov/Upl...sAmendment.pdf

‘‘(f) R

EGARDING

2

—The Appraisal Subcommittee shall establish requirements for State certifi]cation of State certified real estate appraisers and for State licensing of State licensed appraisers, to ensure that appraisers consider and are qualified to consider, in determining the value of a property, any renewable energy sources for, or energy efficiency or energy-conserving improvements or features of, the property.’’http://www.johnboehner.house.gov/Upl...sAmendment.pdf

Can't find a date - guess that is one of the "to be established" parts they will determine later.

Hope this bill fails in the Senate.
If it doesn't, at least hope it phases in VERY slowly or I'm afraid I'm in trouble when I go to sell my 40 year house next year.

You can read the admendment at http://www.johnboehner.house.gov/Upl...sAmendment.pdf
or goto
John Boehner - 8th District of Ohio
See
Read the Bill that Congress Didn't!
Click on Click here to read the 309 pages for yourself.

Boehner's transcript is also worth reading
http://www.johnboehner.house.gov/Upl...Transcript.pdf

[HappyTexan]

What will this do to fixer-uppers for sale ? Will they cease to exist ?

[vec101]

Originally Posted by Lincolnian

Where is the outrage? Are there any organized efforts to prevent senate approval of this bill?

This stuff on housing is part of the Cap & Trade bill. Formal name of the bill is Waxman-Markey bill or H.R. 2454.
They evidently just added all this housing stuff in the 309 page admendment they threw in at 3am on the day of the vote.

There is and has been a LOT of outrage over this bill. Many are calling it the largest tax increase in American history. Even the Fed's big buddy, Warren Buffet said it is a tax and a regressive one (hurts the poor more than the wealthy). The bill is being sold to the public as the way to stop global warming and is NOT officially being called a tax but that is what it is. Problem with "fixing" global warming - there is a lot of evidence now coming out that questions the validity of man-made global warming plus, it is said that the bill actually won't do much of anything to reduce the temperature of the earth. BTW, word has just gotten out that a report by a EPA scientist which contradicts GW was "hidden". I could go on forever about the Cap & Trade bill but I will restrain - want more info, do a search for Cap & Trade. Lots of discussion on it in several forums on CD.

Last Thursday & Friday, the phone lines to Congress were overloaded with people calling their reps to tell them to vote NO to the Cap & Trade bill.

In our state, we held rallies on Thursday telling our Congressmen to vote NO on the bill. 2 of them would not take a stand on how they would vote. After our rallies, phone call campaigns etc by 6 pm the same night, they announced they would vote No.

Part of the problem is that the mainstream media is keeping relatively hush-hush about the bill, about it being a tax, the issues in the bill, etc.

People REALLY need to wake up and become informed about the Cap & Trade bill.
What to do?
Call, write letters, etc. to your Senators.
Tell your friends to do the same.
Check out Official Tax Day TEA Party, July 4th, 2009 for a contact person.

I was hesitant to provide all this info in response to your question because it borders on belonging in another forum.
However, this DOES deal with real estate and is an extremely important issue to all of us who own homes.
Plus, the title of the thread is Cap & Trade and the topic of the thread is how C&P affects our homes.