Section 1 Short title
This Act may be cited as the “Rural Housing Opportunity Maximization for Energy Savings Act” or the “Rural HOMES Act”.
Rural Housing Opportunity Maximization for Energy Savings Act
A BILL
To amend the Farm Security and Rural Investment Act of 2002 to extend and modify the rural energy savings program, and for other purposes.
Sec. 2 Rural energy savings program
Section 6407 of the Farm Security and Rural Investment Act of 2002 (7 U.S.C. 8107a) is amended—
in subsection (b)—
in paragraph (1)—
in subparagraph (B), by striking “or” at the end;
in subparagraph (C), by striking the period at the end and inserting “; or”; and
by adding at the end the following:
“(D) an entity comparable to an entity described in any of subparagraphs (A) through (C) that the Secretary determines provides energy efficiency services to rural consumers.”
in paragraph (2)—
by striking “The term” and inserting the following:
“(A) In general—The term”
by adding at the end the following:
“(B) Inclusion—The term energy efficiency measures includes the replacement of a manufactured home with another manufactured home if the eligible entity determines that the replacement would be cost-effective in increasing energy efficiency.”
by redesignating paragraphs (3) and (4) as paragraphs (4) and (5), respectively;
by inserting after paragraph (2) the following:
“(3) Manufactured home
“(A) In general—Subject to subparagraph (B), the term manufactured home has the meaning given the term in section 982.4(b) of title 24, Code of Federal Regulations (or successor regulations).
“(B) Requirement—The term manufactured home includes only an owner-occupied manufactured home that is located on land—
“(i) that is owned by the owner of the manufactured home; or
“(ii) for which the owner of the manufactured home has a long-term lease arrangement that—
“(I) is not less than 2 years longer than the term of the applicable loan under this section; and
“(II) includes a predetermined rental rate agreement.”
in paragraph (4) (as so redesignated), by striking “served by” and inserting “located in the service area of”;
in subsection (d)(1)(B), by inserting “(or not more than 20 years in the case of a loan for the replacement of a manufactured home with another manufactured home)” after “10 years”; and
in subsection (h), by striking “2018” and inserting “2023”.