MANAGEMENT OF FEDERAL BUILDING EFFICIENCY.

SEC. 434. MANAGEMENT OF FEDERAL BUILDING EFFICIENCY.(a) Large Capital Energy Investments.—Section 543 of the National Energy Conservation Policy Act (42 U.S.C. 8253) is amended by adding at the end the following:“(f) Large Capital Energy Investments.—“(1) In general.—Each Federal agency shall ensure that any large capital energy investment in an existing building that is not a major renovation but involves replacement of installed equipment (such as heating and cooling systems), or involves renovation, rehabilitation, expansion, or remodeling of existing space, employs the most energy efficient designs, systems, equipment, and controls that are life-cycle cost effective.“(2) Process for review of investment decisions.—Not later than 180 days after the date of enactment of this subsection, each Federal agency shall—121 STAT. 1615 “(A) develop a process for reviewing each decision made on a large capital energy investment described in paragraph (1) to ensure that the requirements of this subsection are met; and“(B) report to the Director of the Office of Management and Budget on the process established.“(3) Compliance report.—Not later than 1 year after the date of enactment of this subsection, the Director of the Office of Management and Budget shall evaluate and report to Congress on the compliance of each agency with this subsection.”.(b) Metering.—Section 543(e)(1) of the National Energy Conservation Policy Act (42 U.S.C. 8253(e)(1)) is amended by inserting after the second sentence the following: “Not later than October 1, 2016, each agency shall provide for equivalent metering of natural gas and steam, in accordance with guidelines established by the Secretary under paragraph (2).”.