Replaces everything after the enacting clause. Amends the Urban Weatherization Initiative Act. Provides that the efforts of the Urban Weatherization Initiative shall be coordinated with federal weatherization programs. Requires the Department of Commerce and Economic Opportunity to administer the Initiative so as to qualify for federal grant or matching programs. Provides that the maximum per unit expenditure is limited to $10,000 (currently $6,500) and that a grant recipient may not be awarded grants totaling more than $2,000,000 (currently $500,000) per fiscal year. Provides that two voting members of the Weatherization Initiative Board must have experience in residential weatherization or energy efficiency and that one voting member must have experience in workforce development. Requires the Board's annual report to be filed by May 31 (instead of December 31).