Page:United States Statutes at Large Volume 106 Part 4.djvu/905

 PUBLIC LAW 102-547—OCT. 28, 1992 106 STAT. 3641 and Independent Agencies Appropriations Act, 1993 is amended by striking out "direct loans authorized by^ and all that follows through ''Veterans' Affairs)" under the heading "NATIVE AMERICAN VETERAN HOUSING LOAN PROGRAM ACCOUNT" and inserting in lieu thereof "direct loans authorized by subchapter V of chapter 37 of title 38, United States Code". SEC. 9. ENERGY EFFICIENT MORTGAGES. (a) IN GENERAL. — Subsection (d) of section 3710 of title 38, United States Code, is amended to read as follows: "(d)(1) The Secretary shall carry out a program to demonstrate the feasibility of guaranteeing loans for the acquisition of an existing dwelling and the cost of making energy efficiency improvements to the dwelling or for energy efficiency improvements to a dwelling owned and occupied by a veteran. A loan may be guaranteed under this subsection only if it meets the requirements of this chapter, except as those requirements are modified by this subsection. "(2) The cost of energy efficiency measures that may be financed by a loan guaranteed imaer this section may not exceed the greater of— "(A) the cost of the energy efficiency improvements, up to $3,000; or "(B) $6,000, if the increase in the monthly payment for principal and interest does not exceed the likely reduction in monthly utility costs resulting from the energy efficiency improvements, "(3) Notwithstanding the provisions of section 3703(a)(l)(A) of this title, any loan guaranteed under this subsection shall be guaranteed in an amount equal to the sum of— "(A) the guaranty that would be provided under those provisions for the dwelling without the energy efficiency improvements; and "(B) an amount that bears the same relation to the cost of the energy efficiency improvements as the guaranty referred to in subparagraph (A) bears to the amount of the loan minus the cost of such improvements. "(4) The amount of the veteran's entitlement, calculated in accordance with section 3703(a)(1)(B) of this title, shall not be affected by the amount of the guaranty referred to in paragraph (3)(B). "(5) The Secretary shall take appropriate actions to notify eligible veterans, participating lenders, and interested realtors of the availability of loan guarantees under this subsection and the procedures and requirements that apply to the obtaining of such guarantees. "(6) For the purposes of this subsection: "(A) The term 'energy efficiency improvement' includes a solar heating system, a solar heating and cooling system, or a combined solar heating and cooling system, and the application of a residential energy conservation measure. "(B) The term 'solar heating' has the meaning given such term in section 3(1) of the Solar Heating and Cooling Demonstration Act of 1974 (42 U.S.C. 5502(1)) and, in addition, includes a passive system based on conductive, convective, or radiant energy transfer. "(C) The terms 'solar heating and cooling' and 'combined solar heating and cooling* have the meaning given such terms

�