,,ii #aaeth ,,congress #ast ,session ,s4 #acjf ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #g1 #bjag,mr4 ,leahy 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 establish refundable tax credits for expenses relating to ensuring safety and accessibility in historic structures4 #a4 ,short title ,this ,act may be cited as the ,historic ,downtown ,preservation and ,access ,act4 #b4 ,credits for expenses related to ensuring safety and accessibility in historic buildings 7a7 ,credit for installation of sprinklers and elevators in historic buildings ,subpart ,c of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by inserting after section #cf;,b the following new section3 #cf;,c4 ,accessibility and fire prevention expenses for historic buildings 7a7 ,in general ,there shall be allowed a credit against the tax imposed by this subtitle for the taxable year an amount equal to #ej percent of the qualified historic building expenses paid or incurred by the taxpayer during such taxable year4 7b7 ,limitation ,the credit allowed under subsection 7a7 with respect to any taxpayer for any taxable year shall not exceed #ej1jjj4 7c7 ,qualified historic building expenses ,for purposes of this section-- 7#a7 ,in general ,the term qualified historic building expenses means amounts paid or incurred to install in a certified historic structure an elevator system or a sprinkler system that meets the requirements found in the most recent edition of ,,nfpa #ac3 ,standard for the ,installation of ,sprinkler ,systems4 7#b7 ,national historic landmarks ,in the case of a certified historic structure that is designated as a ,national ,historic ,landmark in accordance with section #aja7;a7 of the ,national ,historic ,preservation ,act 7#af ,u4,s4,c4 #dgj;a7a77 and that is open to the public1 the term qualified historic building expenses shall not include an expense described in paragraph 7#a71 unless the installation of property described in such paragraph meets the requirements for a certified rehabilitation under section #dg7;c77#b77;,c74 7#c7 ,certified historic structure ,the term certified historic structure has the meaning given such term in section #dg7;c77#c71 except that such term shall not include any structure which is a single-family residence4 4 7b7 ,credit for abatement of hazardous substances in historic buildings ,subpart ,c of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf1 as amended by subsection 7a71 is amended by inserting after section #cf;,c the following new section3 #cf;,d4 ,abatement of hazardous substances in historic buildings 7a7 ,in general ,there shall be allowed a credit against the tax imposed by this subtitle for the taxable year an amount equal to the hazardous substance abatement expenses paid or incurred by the taxpayer during such taxable year4 7b7 ,limitation ,the credit allowed under subsection 7a7 with respect to any taxpayer for any taxable year shall not exceed #ej1jjj4 7c7 ,hazardous substance abatement expenses 7#a7 ,in general ,for purposes of this section1 the term hazardous substance abatement expenses means amounts paid or incurred for any-- 7,a7 lead paint abatement services1 7,b7 radon abatement services1 and 7,c7 asbestos abatement services1 with respect to a certified historic structure4 7#b7 ,national historic landmarks ,in the case of a certified historic structure that is designated as a ,national ,historic ,landmark in accordance with section #aja7;a7 of the ,national ,historic ,preservation ,act 7#af ,u4,s4,c4 #dgj;a7a77 and that is open to the public1 the term hazardous substance abatement expenses shall not include an expense described in paragraph 7#a71 unless the services described in such paragraph meet the requirements for a certified rehabilitation under section #dg7;c77#b77;,c74 7#c7 ,certified historic structure ,the term certified historic structure has the same meaning given such term in section #cf;,c7c77#c74 7d7 ,lead paint abatement services 7#a7 ,in general ,subject to paragraph 7#b71 the term lead paint abatement services means-- 7,a7 any lead paint abatement measures performed by a certified lead abatement supervisor1 including 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 and 7,b7 any preparation1 cleanup1 disposal1 and clearance testing activities associated with the lead paint abatement measures which are performed by a certified lead abatement supervisor1 those working under the supervision of such supervisor1 or a qualified contractor4 7#b7 ,limitation ,the term lead paint abatement services shall not include any services to the extent such services are funded by any grant1 contract1 or otherwise by another person or any governmental agency4 7#c7 ,documentation required ,no credit shall be allowed under subsection 7a7 with respect to any lead paint abatement services for a certified historic structure for any taxable year unless-- 7,a7 after such services are complete1 a certified inspector or certified risk assessor provides written documentation to the taxpayer that includes-- 7i7 evidence that the certified historic structure 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 paint abatement services meet 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 and 7ii7 documentation of the amounts paid or incurred for lead paint abatement services during the taxable year with respect to the certified historic structure4 7#d7 ,definitions 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 ,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,e7 ,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 7e7 ,radon abatement services 7#a7 ,in general ,subject to paragraph 7#b71 the term radon abatement services means1 in the case of a certified historic structure for which the indoor radon level is greater than #b picocuries per liter of air1 any radon abatement services performed by a qualified radon mitigation professional4 7#b7 ,limitation ,the term radon abatement services shall not include any services to the extent such services are funded by any grant1 contract1 or otherwise by another person or any governmental agency4 7#c7 ,documentation required ,no credit shall be allowed under subsection 7a7 with respect to any radon abatement services for a certified historic structure for any taxable year unless-- 7,a7 after such services are complete1 a qualified radon measurement professional provides written documentation to the taxpayer that includes-- 7i7 evidence that the certified historic structure meets radon hazard evaluation criteria established under an authorized ,state or local program1 and 7ii7 documentation showing that the radon abatement services meet 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 and 7ii7 documentation of the amounts paid or incurred for radon abatement services during the taxable year with respect to the certified historic structure4 7#d7 ,definitions 7,a7 ,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-- 7i7 a certification standard promulgated by the ,american ,national ,standards ,institute or ,international ,organization for ,standardization1 7ii7 a ,state1 local or other governmental licensing 7or equivalent7 program1 or 7iii7 any other recognized or accredited certification process as determined by the ,secretary4 7,b7 ,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-- 7i7 a certification standard promulgated by the ,american ,national ,standards ,institute or ,international ,organization for ,standardization1 7ii7 a ,state1 local or other governmental licensing 7or equivalent7 program1 or 7iii7 any other recognized or accredited certification process as determined by the ,secretary4 7,c7 ,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 7f7 ,asbestos abatement services 7#a7 ,in general ,subject to paragraph 7#b71 the term asbestos abatement services means-- 7,a7 any asbestos abatement measures performed by an accredited asbestos abatement contractor or supervisor1 7,b7 any 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 and 7,c7 any preparation1 cleanup1 disposal1 and clearance testing activities associated with the asbestos abatement measures or interim asbestos control measures which are performed by an accredited asbestos abatement contractor or supervisor1 or those working under the supervision of such supervisor4 7#b7 ,limitation ,the term asbestos abatement services shall not include any services to the extent such services are funded by any grant1 contract1 or otherwise by another person or any governmental agency4 7#c7 ,documentation required ,no credit shall be allowed under subsection 7a7 with respect to any asbestos abatement services for a certified historic structure for any taxable year unless-- 7,a7 after such services are complete1 an accredited asbestos inspector provides written documentation to the taxpayer that includes-- 7i7 evidence that the certified historic structure meets asbestos hazard evaluation criteria established under an authorized ,state or local program1 and 7ii7 documentation showing that the asbestos abatement services meet 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 and 7ii7 documentation of the amounts paid or incurred for asbestos abatement services during the taxable year with respect to the certified historic structure4 7#d7 ,definitions 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 7g7 ,special rules 7#a7 ,basis reduction ,the basis of any property for which a credit is allowable under subsection 7a7 shall be reduced by the amount of such credit4 7#b7 ,no double benefit ,any deduction allowable for costs taken into account in computing the amount of the credit for qualified abatement expenses shall be reduced by the amount of such credit attributable to such costs4 4 7c7 ,conforming amendments 7#a7 ,section #acbd of title #ca1 ,united ,states ,code1 is amended by inserting 1 #cf;,c1 #cf;,d after 1 #cf;,b4 7#b7 ,the table of sections for subpart ,c of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by inserting after the item relating to section #cf;,b the following new items3 ,sec4 #cf;,c4 ,accessibility and fire prevention expenses for historic buildings4,sec4 #cf;,d4 ,abatement of hazardous substances in historic buildings4 4 7d7 ,effective date ,the amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after the date of the enactment of this ,act4