Home Lead Safety Tax Credit Act of 201 7 This bill allows owners of eligible dwelling units a new tax credit for up to 50% of the lead hazard reduction activity costs for each such unit in a taxable year. An "eligible dwelling unit" is any unit located in the United States that was placed in service before 1978 and the residents of which during the preceding taxable year have a cumulative adjusted gross income of less than $110,000. The bill: (1) specifies the types of lead hazard reduction activity costs eligible for the credit, including risk assessment and abatement costs; and (2) limits the amount of the credit in any taxable year to $3,000 for specified abatement measures and $1,000 for interim lead control measures.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Child healthChild safety and welfareHazardous wastes and toxic substancesIncome tax creditsResidential rehabilitation and home repair
A bill to amend the Internal Revenue Code of 1986 to provide a tax credit for taxpayers who remove lead-based hazards.
USA115th CongressS-1575| Senate
| Updated: 7/18/2017
Home Lead Safety Tax Credit Act of 201 7 This bill allows owners of eligible dwelling units a new tax credit for up to 50% of the lead hazard reduction activity costs for each such unit in a taxable year. An "eligible dwelling unit" is any unit located in the United States that was placed in service before 1978 and the residents of which during the preceding taxable year have a cumulative adjusted gross income of less than $110,000. The bill: (1) specifies the types of lead hazard reduction activity costs eligible for the credit, including risk assessment and abatement costs; and (2) limits the amount of the credit in any taxable year to $3,000 for specified abatement measures and $1,000 for interim lead control measures.