,i #aafth ,,congress #b;d ,session ,h4 ,r4 #fbcc ,,in ,,the ,,house ,,of ,,representatives ,march #ab1 #bjbj,mr4 ,cohen 7for himself1 ,mr4 ,mc,kinley1 ,mr4 ,katko1 ,ms4 ,norton1 and ,mr4 ,grijalva7 introduced the following bill2 which was referred to the ,committee on ,ways and ,means ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to provide a tax credit for taxpayers who remove lead-based hazards4 #a4 ,short title2 findings2 purpose 7a7 ,short title ,this ,act may be cited as the ,home ,lead ,safety ,tax ,credit ,act of #bjbj4 7b7 ,findings ,congress finds that3 7#a7 ,lead is a metal that can produce a wide range of health effects in humans when ingested4 ,children are more vulnerable to lead poisoning than adults4 7#b7 ,lead poisoning is a serious1 entirely preventable threat to a child's intelligence1 behavior1 and learning4 ,in severe cases1 lead poisoning can result in death4 7#c7 ,according to the ,department of ,housing and ,urban ,development1 approximately #bb1jjj1jjj housing units nationwide have at least #a lead paint hazard4 7#d7 ,while appropriated ,federal lead abatement programs1 such as the ,lead ,hazard ,control and ,healthy ,homes grant programs1 have helped reduce childhood lead poisoning1 funding constraints have limited their impact to only about #djj1jjj homes since #aiic4 7#e7 ,childhood lead poisoning can be dramatically reduced by the abatement or complete removal of all lead-based hazards4 ,empirical studies also have shown substantial reductions in lead poisoning when the affected properties have undergone interim control measures that are less costly than abatement4 7c7 ,purpose ,the purpose of this section is to encourage the safe removal of lead hazards from homes and thereby decrease the number of children who suffer reduced intelligence1 learning difficulties1 behavioral problems1 and other health consequences due to lead poisoning4 #b4 ,home lead hazard reduction activity tax credit 7a7 ,in general ,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 ,home lead hazard reduction activity 7a7 ,allowance of credit 7#a7 ,in general ,subject to paragraph 7#b71 there shall be allowed as a credit against the tax imposed by this subtitle 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 7#b7 ,election to apply costs to prior year ,for purposes of this section1 a taxpayer may elect to treat any lead hazard reduction activity cost paid or incurred by the taxpayer during the taxable year as having been paid or incurred during the preceding taxable year4 7b7 ,limitations 7#a7 ,in general ,subject to paragraph 7#c71 the amount of the credit allowed under subsection 7a7 for any eligible dwelling unit for any taxable year shall not exceed-- 7,a7 #c1jjj in the case of lead hazard reduction activity cost including lead abatement measures described in clause 7i71 7ii71 7iv71 or 7v7 of subsection 7c77#a77;,a71 and 7,b7 #a1jjj in the case of lead hazard reduction activity cost including interim lead control measures described in clauses 7i71 7iii71 7iv71 and 7v7 of subsection 7c77#a77;,a74 7#b7 ,other tax credits ,in the case of any credit against ,state or local tax liabilities which is allowable under the laws of any ,state or political subdivision thereof to a taxpayer with respect to any costs paid or incurred by the taxpayer which would otherwise qualify as lead hazard reduction activity costs under this section1 the amount of the credit allowed under subsection 7a7 for any eligible dwelling unit for any taxable year 7determined after application of paragraph 7#a77 shall not exceed an amount equal to the excess1 if any1 of-- 7,a7 the lead hazard reduction activity cost paid or incurred by the taxpayer during the taxable year for such unit1 over 7,b7 the amount of such ,state or local tax credit4 7#c7 ,limitation per residence ,the cumulative amount of the credit allowed under subsection 7a7 for an eligible dwelling unit for all taxable years shall not exceed #d1jjj4 7c7 ,definitions and special rules ,for purposes of this section-- 7#a7 ,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 a lead-based hazard 7as such terms are defined by the ,secretary1 in consultation with the ,administrator of the ,environmental ,protection ,agency71 7ii7 the cost for performing lead abatement measures by a certified lead abatement supervisor 7as such term is defined by the ,secretary1 in consultation with the ,administrator of the ,environmental ,protection ,agency71 including the removal of paint1 dust1 or pipes1 the permanent enclosure or encapsulation of lead-based paint or pipes1 the replacement of painted surfaces1 windows1 or fixtures1 or the removal or permanent covering of soil when lead-based hazards are present1 7iii7 the cost for performing interim lead control measures to reduce exposure or likely exposure to lead-based hazards1 including specialized cleaning1 repairs1 maintenance1 painting1 temporary containment1 ongoing monitoring of lead-based hazards1 and the establishment and operation of management and resident education programs1 but only if such measures are evaluated and completed by a certified lead abatement supervisor using accepted methods1 are conducted by a qualified contractor1 and have an expected useful life of more than #aj years1 7iv7 the cost for a certified lead abatement supervisor1 persons 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 measures or interim lead 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 such term is defined by the ,secretary1 in consultation with the ,administrator of the ,environmental ,protection ,agency74 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#b7 ,eligible dwelling unit 7,a7 ,in general ,the term eligible dwelling unit means1 with respect to any taxable year1 any dwelling unit-- 7i7 which was placed in service before #aigh1 7ii7 which is located in the ,united ,states1 and 7iii7 the residents of which during the preceding taxable year have a cumulative adjusted gross income of less than #afj1jjj4 7,b7 ,dwelling unit ,the term dwelling unit has the meaning given such term by section #bhj;,a7f77#a74 7#c7 ,qualified contractor ,the term qualified contractor means any contractor who has successfully completed a training course on lead safe work practices which has been approved by the ,department of ,housing and ,urban ,development and the ,environmental ,protection ,agency4 7#d7 ,documentation required for credit allowance ,no credit shall be allowed under subsection 7a7 with respect to any eligible dwelling unit for any taxable year unless1 after lead hazard reduction activity is complete1 a certified inspector 7as such term is defined by the ,secretary1 in consultation with the ,administrator of the ,environmental ,protection ,agency7 or certified risk assessor provides written documentation to the taxpayer that includes-- 7,a7 evidence that-- 7i7 the eligible dwelling unit meets the lead hazard reduction criteria defined by the ,secretary1 in consultation with the ,administrator of the ,environmental ,protection ,agency1 or 7ii7 the eligible dwelling unit meets lead hazard evaluation criteria established under an authorized ,state or local program1 and 7,b7 documentation showing that the lead hazard reduction activity meets the requirements of this section4 7#e7 ,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#f7 ,no double benefit ,any deduction allowable for costs taken into account in computing the amount of the credit for lead hazard reduction activity shall be reduced by the amount of such credit attributable to such costs4 7d7 ,inflation adjustment ,in the case of any taxable year beginning in a calendar year after #bjba1 each of the dollar amounts in subsections 7b7 and 7c77#b77;,a77iii7 shall be increased by an amount equal to-- 7#a7 such dollar amount1 multiplied by 7#b7 the cost-of-living adjustment determined under section #a7;f77#c7 for the calendar year in which the taxable year begins1 determined by substituting #8calendar year #bjbj' for #8calendar year #bjaf' in subparagraph 7,a77ii7 thereof4 ,any increase determined under the preceding sentence shall be rounded to the nearest multiple of #ajj4 4 7b7 ,conforming amendments 7#a7 ,section #acbd7;b77#b7 of title #ca1 ,united ,states ,code1 is amended by inserting 81 #cf;,c0 after 8#cf;,b04 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 before the item relating to section #cg the following new item3 ,sec4 #cf;,c4 ,home lead hazard reduction activity4 4 7c7 ,effective date ,the amendments made by this section shall apply to lead hazard reduction activity costs incurred after ,december #ca1 #bjbj1 in taxable years ending after that date4