Aug. 4, Washington, D.C. — The House Financial Services Committee unanimously passed a bill late last week that would provide incentives to lenders and financial institutions to offer lower interest loans and other benefits to Americans who build or buy energy-efficient homes, or who remodel their houses to make them more efficient. The bill also provides incentives for business and government entities.

Sponsored by Rep. Ed Perlmutter (D-Colo.), the bill is dubbed “Green Resources for Energy Efficient Neighborhoods,” or “GREEN.” (Read more on the bill’s introduction here.) “This legislation proves it is easy to be green. The GREEN Act will help revitalize our economy by making energy efficiency practices more affordable, accessible, and achievable,” said Perlmutter in a statement. “By prioritizing energy efficiency practices, we can ease the woes of homeowners, lenders, financial markets, builders, and our environment.”

Perlmutter said his legislation, which goes to the full House for a vote in September, has broad support from consumers, industry, financial institutions, and developers. If it passes the House, it moves on to the Senate.