This bill creates a federal tax credit to help homeowners pay for removing lead hazards from homes built before 1978. Homeowners can claim a credit worth 50 percent of their lead removal costs, up to $3,000 per year for full lead abatement or $1,000 per year for interim control measures, with a lifetime cap of $4,000 per home. The credit applies to costs for lead inspections, removal of lead paint and pipes, encapsulation, cleanup, and tenant relocation expenses, and requires certification from qualified inspectors and contractors. The legislation is intended to address the fact that approximately 22 million U.S. homes contain lead paint hazards, which pose serious health risks to children, and aims to supplement existing federal grant programs that have only reached about 400,000 homes since 1993. The tax credit becomes effective for work completed after December 31, 2024, and expires after December 31, 2028, with dollar amounts adjusted annually for inflation starting in 2026.
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