GREEN Appraisals Act of 2024
S 4340, the GREEN Appraisals Act of 2024, requires lenders to inform borrowers about energy efficiency reports and mandates that appraisers consider these reports when valuing homes for federally backed mortgages (like FHA, VA, or USDA loans). Borrowers can provide certified energy assessments - detailing efficiency features, energy savings, or renewable energy systems - to appraisers, who must factor this data into property valuations. The law applies to all covered loans starting March 1, 2026, and requires standardized report formats (e.g., HERS ratings or Home Energy Score). This directly affects homeowners seeking mortgages, lenders, and appraisers by ensuring energy efficiency is formally evaluated in property value assessments.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2024
Committee Review
Floor Vote
President
Introduced May 15, 2024
Last action May 15, 2024
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Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
May 15, 2024
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
May 15, 2024
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Michael F. Bennet
DDemocratic
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