You may have heard of the Home Star program that will provide rebates and financing to homeowners for energy improvements on their homes — if it passes Congress. The proposed federal legislation (the Home Star Energy Retrofit Bill of 2010, H.R. 5019) passed the House of Representatives May 6. The Senate bill (S. 3177) is now in the hands of the Senate Finance Committee.

President Barack Obama highlighted the Home Star program in a June 12 letter to Democratic and Republican leaders in the House and Senate, encouraging its passage.

Matt Golden, co-founder and president of energy-efficiency/home remodeling firm Recurve, believes the legislation is in a “very good position” to pass the Senate and be signed into law, “because we have such a broad coalition.” Golden’s company is part of the Home Star Coalition, and he has spent much of his time working to get this piece of legislation passed.

Proponents of the legislation include business leaders, construction contractors, building products and mechanical manufacturers, retail sales businesses, environmental and energy-efficiency groups, and labor advocates.

So what exactly is Home Star, and how will it help contractors?

Read here for the full blog from Kelly Faloon, managing editor of PM.