Legis Daily

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
Sheldon Whitehouse

Sheldon Whitehouse

Democratic Senator

Rhode Island

Cosponsors (3)
Jeanne Shaheen (Democratic)Margaret Wood Hassan (Democratic)Robert P. Casey (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 18, 2017
Introduced in Senate
Jul 18, 2017
Read twice and referred to the Committee on Finance.
  • July 18, 2017
    Introduced in Senate


  • July 18, 2017
    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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 18, 2017
Introduced in Senate
Jul 18, 2017
Read twice and referred to the Committee on Finance.
  • July 18, 2017
    Introduced in Senate


  • July 18, 2017
    Read twice and referred to the Committee on Finance.
Sheldon Whitehouse

Sheldon Whitehouse

Democratic Senator

Rhode Island

Cosponsors (3)
Jeanne Shaheen (Democratic)Margaret Wood Hassan (Democratic)Robert P. Casey (Democratic)

Finance Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Child healthChild safety and welfareHazardous wastes and toxic substancesIncome tax creditsResidential rehabilitation and home repair