,,ii #aadth ,,congress #b;d ,session ,s4 #bege ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,february #bd1 #bjaf,mr4 ,murphy introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to provide a tax credit for property owners who remove hazards relating to lead1 asbestos1 and radon4 #a4 ,short title ,this ,act may be cited as the ,healthy ,homes ,tax ,credit ,act4 #b4 ,tax credits for reduction of lead1 radon1 and asbestos hazards in homes 7a7 ,in general ,subpart ,b of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new sections3 #cj;,e4 ,home lead hazard reduction activity 7a7 ,allowance of credit ,there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to #ej percent of the lead hazard reduction activity cost paid or incurred by the taxpayer during the taxable year for each eligible dwelling unit4 7b7 ,limitation ,the amount of the credit allowed under subsection 7a7 for any eligible dwelling unit for any taxable year shall not exceed-- 7#a7 #e1jjj1 reduced by 7#b7 the aggregate lead hazard reduction activity cost taken into account under subsection 7a7 with respect to such unit for all preceding taxable years4 7c7 ,definitions ,for purposes of this section3 7#a7 ,certified lead abatement supervisor ,the term certified lead abatement supervisor means an individual certified by the ,environmental ,protection ,agency pursuant to section #gde4bbf of title #dj1 ,code of ,federal ,regulations1 or an appropriate ,state agency pursuant to section #gde4cbe of title #dj1 ,code of ,federal ,regulations4 7#b7 ,certified inspector ,the term certified inspector means an inspector certified by the ,environmental ,protection ,agency pursuant to section #gde4bbf of title #dj1 ,code of ,federal ,regulations1 or an appropriate ,state agency pursuant to section #gde4cbe of title #dj1 ,code of ,federal ,regulations4 7#c7 ,certified risk assessor ,the term certified risk assessor means a risk assessor certified by the ,environmental ,protection ,agency pursuant to section #gde4bbf of title #dj1 ,code of ,federal ,regulations1 or an appropriate ,state agency pursuant to section #gde4cbe of title #dj1 ,code of ,federal ,regulations4 7#d7 ,eligible dwelling unit 7,a7 ,in general ,the term eligible dwelling unit means1 with respect to any taxable year1 any dwelling unit which is placed in service before #aiej and located in the ,united ,states4 7,b7 ,dwelling unit ,the term dwelling unit has the meaning given such term by section #bhj;,a7f77#a74 7#e7 ,lead hazard reduction activity cost 7,a7 ,in general ,the term lead hazard reduction activity cost means1 with respect to any eligible dwelling unit-- 7i7 the cost for a certified risk assessor to conduct an assessment to determine the presence of lead pipes or a lead-based paint hazard1 7ii7 the cost for performing lead abatement measures by a certified lead abatement supervisor1 including the removal of lead pipes1 the removal of paint and dust1 the permanent enclosure or encapsulation of lead-based paint1 the replacement of painted surfaces1 windows1 or fixtures1 or the removal or permanent covering of soil when lead-based paint hazards are present in such paint1 dust1 or soil1 7iii7 the cost for a certified lead abatement supervisor1 those working under the supervision of such supervisor1 or a qualified contractor to perform all preparation1 cleanup1 disposal1 and clearance testing activities associated with the lead abatement measures1 and 7iv7 costs incurred by or on behalf of any occupant of such dwelling unit for any relocation which is necessary to achieve occupant protection 7as defined under section #ce4acde of title #bd1 ,code of ,federal ,regulations74 7,b7 ,limitation ,the term lead hazard reduction activity cost does not include any cost to the extent such cost is funded by any grant1 contract1 or otherwise by another person or any governmental agency4 7#f7 ,lead-based paint hazard ,the term lead-based paint hazard has the meaning given such term by section #gde4fc of title #dj1 ,code of ,federal ,regulations4 7#g7 ,qualified contractor ,the term qualified contractor means a ,lead-,safe ,certified ,firm or certified renovator under the ,lead ,renovation1 ,repair and ,painting ,program of the ,environmental ,protection ,agency4 7d7 ,special rules 7#a7 ,documentation required for credit allowance ,no credit shall be allowed under subsection 7a7 with respect to any eligible dwelling unit for any taxable year unless-- 7,a7 after lead hazard reduction activity is complete1 a certified inspector or certified risk assessor provides written documentation to the taxpayer that includes-- 7i7 evidence that the eligible dwelling unit meets lead hazard evaluation criteria established by the ,environmental ,protection ,agency or under an authorized ,state or local program1 and 7ii7 documentation showing that the lead hazard reduction activity meets the requirements of this section1 and 7,b7 the taxpayer files with the appropriate ,state agency and attaches to the tax return for the taxable year-- 7i7 the documentation described in subparagraph 7,a71 7ii7 documentation of the lead hazard reduction activity costs paid or incurred during the taxable year with respect to the eligible dwelling unit1 and 7iii7 a statement certifying that the dwelling unit qualifies as an eligible dwelling unit for such taxable year4 7#b7 ,basis reduction ,the basis of any property for which a credit is allowable under subsection 7a7 shall be reduced by the amount of such credit 7determined without regard to subsection 7e774 7#c7 ,no double benefit ,any deduction allowable for costs taken into account in computing the amount of the credit for lead-based paint abatement shall be reduced by the amount of such credit attributable to such costs4 7e7 ,limitation based on amount of tax ,the credit allowed under subsection 7a7 for the taxable year shall not exceed the excess of-- 7#a7 the sum of the regular tax liability 7as defined in section #bf7;b77 plus the tax imposed by section #ee1 over 7#b7 the sum of the credits allowable under subpart ,a and sections #bg1 #bi1 #cj1 #cj;,a1 #cj;,b1 #cj;,c1 and #cj;,d for the taxable year4 7f7 ,carryforward allowed 7#a7 ,in general ,if the credit amount allowable under subsection 7a7 for a taxable year exceeds the amount of the limitation under subsection 7e7 for such taxable year 7referred to as the unused credit year in this subsection71 such excess shall be allowed as a credit carryforward for each of the #bj taxable years following the unused credit year4 7#b7 ,rules ,rules similar to the rules of section #ci shall apply with respect to the credit carryforward under paragraph 7#a74 #cj;,f4 ,home radon hazard reduction activity 7a7 ,allowance of credit ,there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to #ej percent of the radon hazard reduction activity cost paid or incurred by the taxpayer during the taxable year for each eligible dwelling unit4 7b7 ,limitation ,the amount of the credit allowed under subsection 7a7 for any eligible dwelling unit for any taxable year shall not exceed-- 7#a7 #e1jjj1 reduced by 7#b7 the aggregate radon hazard reduction activity cost taken into account under subsection 7a7 with respect to such unit for all preceding taxable years4 7c7 ,definitions ,for purposes of this section3 7#a7 ,eligible dwelling unit 7,a7 ,in general ,the term eligible dwelling unit means1 with respect to any taxable year1 any dwelling unit located in the ,united ,states4 7,b7 ,dwelling unit ,the term dwelling unit has the meaning given such term by section #bhj;,a7f77#a74 7#b7 ,qualified radon measurement professional ,the term qualified radon measurement professional means an individual who has demonstrated the minimum degree of appropriate technical knowledge and skills specific to radon measurement in conformance with the requirements of-- 7,a7 a certification standard promulgated by the ,american ,national ,standards ,institute or ,international ,organization for ,standardization1 7,b7 a ,state1 local or other governmental licensing 7or equivalent7 program1 or 7,c7 any other recognized or accredited certification process as determined by the ,secretary4 7#c7 ,qualified radon mitigation professional ,the term qualified radon mitigation professional means an individual who has demonstrated the minimum degree of appropriate technical knowledge and skills specific to radon mitigation in conformance with the requirements of-- 7,a7 a certification standard promulgated by the ,american ,national ,standards ,institute or ,international ,organization for ,standardization1 7,b7 a ,state1 local or other governmental licensing 7or equivalent7 program1 or 7,c7 any other recognized or accredited certification process as determined by the ,secretary4 7#d7 ,radon ,the term radon has the meaning given the term in section #cjb of the ,toxic ,substances ,control ,act 7#ae ,u4,s4,c4 #bffb74 7#e7 ,radon hazard reduction activity cost 7,a7 ,in general ,the term radon hazard reduction activity cost means1 with respect to any eligible dwelling unit-- 7i7 the cost for a qualified radon measurement professional to conduct an assessment to determine the indoor radon level of the dwelling unit1 and 7ii7 if the indoor radon level of the dwelling unit is not less than #b picocuries per liter of air1 as determined by a qualified radon measurement professional1 the cost for performing radon abatement measures by a qualified radon mitigation professional4 7,b7 ,limitation ,the term radon hazard reduction activity cost does not include any cost to the extent such cost is funded by any grant1 contract1 or otherwise by another person or any governmental agency4 7d7 ,special rules 7#a7 ,documentation required for credit allowance ,no credit shall be allowed under subsection 7a7 with respect to any eligible dwelling unit for any taxable year unless-- 7,a7 after radon hazard reduction activity is complete1 a qualified radon measurement professional provides written documentation to the taxpayer that includes-- 7i7 evidence that the eligible dwelling unit meets radon hazard evaluation criteria established under an authorized ,state or local program1 and 7ii7 documentation showing that the radon hazard reduction activity meets the requirements of this section1 and 7,b7 the taxpayer files with the appropriate ,state agency and attaches to the tax return for the taxable year-- 7i7 the documentation described in subparagraph 7,a71 7ii7 documentation of the radon hazard reduction activity costs paid or incurred during the taxable year with respect to the eligible dwelling unit1 and 7iii7 a statement certifying that the dwelling unit qualifies as an eligible dwelling unit for such taxable year4 7#b7 ,basis reduction ,the basis of any property for which a credit is allowable under subsection 7a7 shall be reduced by the amount of such credit 7determined without regard to subsection 7e774 7#c7 ,no double benefit ,any deduction allowable for costs taken into account in computing the amount of the credit for radon abatement shall be reduced by the amount of such credit attributable to such costs4 7e7 ,limitation based on amount of tax ,the credit allowed under subsection 7a7 for the taxable year shall not exceed the excess of-- 7#a7 the sum of the regular tax liability 7as defined in section #bf7;b77 plus the tax imposed by section #ee1 over 7#b7 the sum of the credits allowable under subpart ,a and sections #bg1 #bi1 #cj1 #cj;,a1 #cj;,b1 #cj;,c1 and #cj;,d for the taxable year4 7f7 ,carryforward allowed 7#a7 ,in general ,if the credit amount allowable under subsection 7a7 for a taxable year exceeds the amount of the limitation under subsection 7e7 for such taxable year 7referred to as the unused credit year in this subsection71 such excess shall be allowed as a credit carryforward for each of the #bj taxable years following the unused credit year4 7#b7 ,rules ,rules similar to the rules of section #ci shall apply with respect to the credit carryforward under paragraph 7#a74 #cj;,g4 ,home asbestos hazard reduction activity 7a7 ,allowance of credit ,there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to #ej percent of the asbestos hazard reduction activity cost paid or incurred by the taxpayer during the taxable year for each eligible dwelling unit4 7b7 ,limitation ,the amount of the credit allowed under subsection 7a7 for any eligible dwelling unit for any taxable year shall not exceed-- 7#a7 either-- 7,a7 #e1jjj in the case of asbestos hazard reduction activity cost including asbestos abatement measures described in clauses 7i71 7ii71 7iv71 and 7v7 of subsection 7c77#c77;,a71 or 7,b7 #a1jjj in the case of asbestos hazard reduction activity cost including interim asbestos control measures described in clauses 7i71 7iii71 7iv71 and 7v7 of subsection 7c77#c77;,a71 reduced by 7#b7 the aggregate asbestos hazard reduction activity cost taken into account under subsection 7a7 with respect to such unit for all preceding taxable years4 7c7 ,definitions ,for purposes of this section3 7#a7 ,accredited asbestos abatement contractor or supervisor ,the term accredited asbestos abatement contractor or supervisor means any person accredited as a contractor or supervisor under the ,asbestos ,model ,accreditation ,plan of the ,environmental ,protection ,agency4 7#b7 ,accredited asbestos inspector ,the term accredited asbestos inspector means any person accredited as an inspector under the ,asbestos ,model ,accreditation ,plan of the ,environmental ,protection ,agency4 7#c7 ,asbestos ,the term asbestos has the meaning given the term in section #bjb of the ,toxic ,substances ,control ,act 7#ae ,u4,s4,c4 #bfdb74 7#d7 ,asbestos hazard ,the term asbestos hazard has the meaning given the term imminent hazard to the health and safety in section #aa of the ,asbestos ,school ,hazard ,detection and ,control ,act of #aihj 7#bj ,u4,s4,c4 #cfaj74 7#e7 ,asbestos hazard reduction activity cost 7,a7 ,in general ,the term asbestos hazard reduction activity cost means1 with respect to any eligible dwelling unit-- 7i7 the cost for an accredited asbestos inspector to conduct an assessment to determine the presence of a asbestos hazard1 7ii7 the cost for performing asbestos abatement measures by an accredited asbestos abatement contractor or supervisor1 7iii7 the cost for performing interim asbestos control measures to reduce exposure or likely exposure to asbestos hazards1 but only if such measures are evaluated and completed by an accredited asbestos abatement contractor or supervisor using accepted methods1 are conducted by an accredited asbestos abatement contractor or supervisor1 and have an expected useful life of more than #aj years1 7iv7 the cost for an accredited asbestos abatement supervisor1 those working under the supervision of such supervisor1 or an accredited asbestos abatement contractor or supervisor to perform all preparation1 cleanup1 disposal1 and clearance testing activities associated with the asbestos abatement measures or interim asbestos control measures1 and 7v7 costs incurred by or on behalf of any occupant of such dwelling unit for any relocation which is necessary to achieve occupant protection 7as determined by the ,administrator of the ,environmental ,protection ,agency74 7,b7 ,limitation ,the term asbestos hazard reduction activity cost does not include any cost to the extent such cost is funded by any grant1 contract1 or otherwise by another person or any governmental agency4 7#f7 ,eligible dwelling unit 7,a7 ,in general ,the term eligible dwelling unit means1 with respect to any taxable year1 any dwelling unit located in the ,united ,states4 7,b7 ,dwelling unit ,the term dwelling unit has the meaning given such term by section #bhj;,a7f77#a74 7d7 ,special rules 7#a7 ,documentation required for credit allowance ,no credit shall be allowed under subsection 7a7 with respect to any eligible dwelling unit for any taxable year unless-- 7,a7 after asbestos hazard reduction activity is complete1 an accredited asbestos inspector provides written documentation to the taxpayer that includes-- 7i7 evidence that the eligible dwelling unit meets asbestos hazard evaluation criteria established under an authorized ,state or local program1 and 7ii7 documentation showing that the asbestos hazard reduction activity meets the requirements of this section1 and 7,b7 the taxpayer files with the appropriate ,state agency and attaches to the tax return for the taxable year-- 7i7 the documentation described in subparagraph 7,a71 7ii7 documentation of the asbestos hazard reduction activity costs paid or incurred during the taxable year with respect to the eligible dwelling unit1 and 7iii7 a statement certifying that the dwelling unit qualifies as an eligible dwelling unit for such taxable year4 7#b7 ,basis reduction ,the basis of any property for which a credit is allowable under subsection 7a7 shall be reduced by the amount of such credit 7determined without regard to subsection 7e774 7#c7 ,no double benefit ,any deduction allowable for costs taken into account in computing the amount of the credit for asbestos abatement shall be reduced by the amount of such credit attributable to such costs4 7e7 ,limitation based on amount of tax ,the credit allowed under subsection 7a7 for the taxable year shall not exceed the excess of-- 7#a7 the sum of the regular tax liability 7as defined in section #bf7;b77 plus the tax imposed by section #ee1 over 7#b7 the sum of the credits allowable under subpart ,a and sections #bg1 #bi1 #cj1 #cj;,a1 #cj;,b1 #cj;,c1 and #cj;,d for the taxable year4 7f7 ,carryforward allowed 7#a7 ,in general ,if the credit amount allowable under subsection 7a7 for a taxable year exceeds the amount of the limitation under subsection 7e7 for such taxable year 7referred to as the unused credit year in this subsection71 such excess shall be allowed as a credit carryforward for each of the #bj taxable years following the unused credit year4 7#b7 ,rules ,rules similar to the rules of section #ci shall apply with respect to the credit carryforward under paragraph 7#a74 4 7b7 ,technical amendments 7#a7 ,section #ajaf7;a7 of the ,internal ,revenue ,code of #aihf is amended-- 7,a7 in paragraph 7#cf71 by striking and at the end1 7,b7 in paragraph 7#cg71 by striking the period at the end and inserting a comma1 and 7,c7 by adding at the end the following new paragraphs3 7#ch7 in the case of an eligible dwelling unit with respect to which a credit for any lead hazard reduction activity cost was allowed under section #cj;,e1 to the extent provided in section #cj;,e7d77#b71 7#ci7 in the case of an eligible dwelling unit with respect to which a credit for any radon hazard reduction activity cost was allowed under section #cj;,f1 to the extent provided in section #cj;,f7d77#b71 and 7#dj7 in the case of an eligible dwelling unit with respect to which a credit for any asbestos hazard reduction activity cost was allowed under section #cj;,g1 to the extent provided in section #cj;,g7d77#b7 4 7#b7 ,the table of sections for subpart ,b of part ,,iv of subchapter ,a of chapter #a of such ,code is amended by inserting after the item relating to section #cj;,d the following new items3 ,sec4 #cj;,e4 ,home lead hazard reduction activity4,sec4 #cj;,f4 ,home radon hazard reduction activity4,sec4 #cj;,g4 ,home asbestos hazard reduction activity4 4 7c7 ,effective date ,the amendments made by this section shall apply to costs incurred after ,december #ca1 #bjae1 in taxable years ending after that date4