PACE Assessment Protection Act of 2010

referredUnited States· United States Congress· EN

Introduced

22 July 2010

Last action

22 July 2010 · Introduced

Status

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

PACE Assessment Protection Act of 2010 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to adopt underwriting standards that are consistent with the Guidelines for Pilot PACE Financing Programs issued on May 7, 2010, by the Department of Energy (DOE). Provides that liens or other property obligations that secure property taxes or assessments under a PACE program and that are consistent with such standards shall be considered to comply with the Uniform Instruments of Fannie Mae and Freddie Mac and shall not constitute a default on an existing mortgage or trigger the exercise of lender's remedies for a property with such a lien. Defines a "PACE program" as a property assessed clean energy program under which a state or political subdivision levies taxes or assessments on real property to finance the installation of renewable energy and energy efficiency improvements. Prohibits Fannie Mae and Freddie Mac from requiring repayment of a PACE program tax or assessment in order for a property owner to finance, refinance, or transfer property that meets their underwriting criteria without consideration of the PACE program lien. Requires the underwriting standards to provide that, in the event that a tax or assessment under a PACE program is delinquent, only the unpaid delinquent amount along with applicable penalties, interest, and costs will be subject to foreclosure and not the entire amount. Prohibits the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, and all federal agencies and entities chartered under federal law from discriminating against communities implementing or participating in a PACE program.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

22 July 2010
Introduced
Sponsor introductory remarks on measure. (CR S6206)
Source: IntroReferral
22 July 2010
Introduced
Introduced in Senate
Source: IntroReferral
22 July 2010
Introduced
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in Senate · 22 July 2010 · Download file

Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 22 July 2010
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Introduced in Senate (PDF)
Introduced in Senate · EN · 22 July 2010
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Introduced in Senate
summary · EN · 22 July 2010
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to → PACE Assessment Protection Act of 2010

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/111th-congress/senate-bill/3642
Open data entity: https://api.congress.gov/v3/bill/111/s/3642
us · 111-s-3642 · source updated 4 December 2025