Federal Cap & Trade Facts & Myths
Numerous emails are circulating in the Realtor® community that contain incorrect information about the House version of the American Clean Energy and Security Act.
Thanks to NAR’s lobbying efforts, provisions that would have required each existing home and building to receive an energy rating prior to sale or transfer have been removed from the House version of H.R. 2998. Click here to view NAR’s information pack on climate issues.
American Recovery and Reinvestment Act of 2009
The American Recovery and Reinvestment Act of 2009 (ARRA) extends, expands, and simplifies the federal income tax credits for homeowners who make energy efficiency home improvements. The law extends the consumer tax benefits for another year, through 2010; triples the total available tax credit from $500 to $1,500; and increases the tax credit to 30 percent of the cost of each qualified energy efficiency improvement. The law also removes the cap on geothermal heat pumps and solar water heaters through 2016. Learn more about how energy efficiency can lower your federal tax bill as well as your energy bills.
Virginia has also received $15 million in federal funds for state taxpayer rebates for the installation of energy efficiency systems and devices. Click here to register for Virginia's program.
LOCAL/STATE – ENVIRONMENTAL INITIATIVES
POSITION:
The Northern Virginia Association of Realtors® (NVAR) supports voluntary incentives to encourage energy efficiency, open space preservation and green building practices, but opposes environmental mandates that restrict private property rights.
DISCUSSION:
With the increasing costs of fossil fuels and widespread warnings on the effects of global warming, the desire to become more “green” is increasing. Northern Virginia’s local governments are responding to this trend by embracing new environmental initiatives.
One such initiative is the Cool Counties Initiative. In 2007, Fairfax and Arlington Counties joined the Sierra Club and other large counties throughout the nation in a pledge to reduce global warming emissions 80 percent by 2050, an average annual reduction of 2 percent. Cool Counties participants also urge the federal government to adopt legislation requiring an 80 percent emissions reduction by 2050 and call for fuel economy standards to be raised to 35 miles per gallon within a decade.
Click here to learn more about Fairfax County's environmental programs, which include preservation of the county's tree canopy. Fairfax County adopted a Tree Action Plan in 2007, which allows residents to nominate heritage, specimen, and memorial trees for preservation. County Supervisors rejected the original draft of the proposal that would have allowed outside nomination of trees on private property; under the approved plan, residents may only nominate their own trees or those on publicly-owned land.
Click here to visit Arlington County's Department of Environmental Services Web site.
The City of Alexandria's Environmental Quality Web site can be accessed here. The site includes information about Alexandria's Eco City Action Plan.