Roundtable Commends House for Passing H.R. 2126, "Energy Efficiency Improvement Act of 2013"

Legislation a Boost for U.S. Real Estate, Businesses and Environment

Mar 05, 2014, 16:57 ET from Real Estate Roundtable

WASHINGTON, March 5, 2014 /PRNewswire-USNewswire/ -- Real Estate Roundtable President and Chief Executive Officer Jeffrey D. DeBoer today commended the U.S. House of Representatives in passing energy efficiency legislation, and urged the Senate to take similar action:

"The Energy Efficiency Improvement Act (H.R. 2126) – sponsored by Representatives David McKinley (R-WV) and Peter Welch (D-VT) – is a smart, common sense bill that takes a voluntary, market-based approach to align commercial landlords and tenants to reduce demands on the power grid.  The Real Estate Roundtable commends the U.S. House of Representatives for overwhelmingly passing this measure today.  The Act is a 'triple win' that will spur the economy by creating jobs, enhancing energy security, and preserving our environment by cutting greenhouse gases.

"In particular, the Act's 'Tenant Star' provisions will boost innovation in buildings across the nation.  Tenant Star will encourage cooperation between commercial tenants and landlords to design and construct high-performance leased spaces, and make smart operational decisions to lower energy use by investing in measures that will pay for themselves through energy savings. Tenant Star will also go a long way to help ensure that U.S. buildings – and the separate spaces leased within them – are at the vanguard of technology and energy conservation.  The program will allow building owners to attract financiers, investors, and tenants in the increasingly competitive national and global markets for real estate. 

"Companion bipartisan legislation is pending in the Senate, known as the 'Shaheen-Portman' bill (S. 2074) after its lead sponsors Senators Jeanne Shaheen (D-NH) and Rob Portman (R-OH).  The Roundtable hopes that the House's action today will spur the Senate to bring its version of energy-efficiency legislation to a vote in short order."

The Real Estate Roundtable brings together leaders of the nation's publicly-held and privately owned real estate ownership, development, lending and management firms with the leaders of national real estate trade associations to jointly address key national policy issues relating to real estate and the overall economy. Collectively, Roundtable members' portfolios contain over 12 billion square feet of office, retail and industrial properties valued at more than $1 trillion; over 1.5 million apartment units; and in excess of 2.5 million hotel rooms.  Participating trade associations represent more than 1.5 million people involved in virtually every aspect of the real estate business.

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SOURCE Real Estate Roundtable