1. Short title This Act may be cited as the The Residential Energy and Economic Savings Act or the TREES Act . 2. Findings The Congress finds that— (1) the electric power sector is the second largest source of greenhouse gas emissions in the United States today, producing approximately 28 percent of the country’s emissions; (2) heating and cooling homes accounts for over 40 percent of residential electricity usage in the United States; (3) shade trees planted in strategic locations can reduce residential cooling costs by as much as 30 percent; (4) strategically planted shade trees can provide significant carbon benefits both directly (sequestration by the growing tree) and indirectly (reductions in carbon emissions from electricity conservation); (5) low-income neighborhoods are disproportionately impacted by the higher costs, poorer air quality, and increased risk of heat-related illnesses resulting from higher temperatures; (6) trees can reduce the rate and magnitude of stormwater runoff and improve surface water quality; (7) trees reduce topsoil erosion, prevent harmful land pollutants contained in soil from getting into our waterways, slow down water run-off, and ensure that our groundwater supplies are continually being replenished; and (8) trees strategically placed on or near residential property can increase a home’s property value. 3. Definitions As used in this Act: (1) The term nonprofit tree-planting organization means any organization described in section 501(c)(3) of the Internal Revenue Code of 1986 ( 26 U.S.C. 501(c)(3) ), that is exempt from taxation under section 501(a) of such Code ( 26 U.S.C. 501(a) ), which exists, in whole or in part, to— (A) expand urban and residential tree cover; (B) distribute young trees for planting; (C) increase awareness of the environmental and energy-related benefits of trees; (D) educate the public about proper tree planting, care, and maintenance strategies