Federal Tax Credit Of $4,000 For Lead Abatement Proposed - 27 East

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Federal Tax Credit Of $4,000 For Lead Abatement Proposed

authorStaff Writer on May 10, 2021

U.S. Senator Kirsten Gillibrand is co-sponsoring legislation to provide a $4,000 tax credit for homeowners, landlords and renters to cover the cost of abating lead hazards in paint, pipes and soil.

Under the Home Lead Safety Tax Credit Act of 2021, the credit would be available through 2024 to cover up to half of the cost of lead abatement. If enacted, the legislation would also supplement federal, state and local programs to replace lead pipes that deliver drinking water.

“Everyone should have a home that can keep them safe from health risks, yet thousands of New Yorkers and their families are dealing with the tragic consequences of lead poisoning from exposure in their homes,” Ms. Gillibrand said in a statement. “Unfortunately, many families who know the risk of lead exposure in their homes simply can’t afford the overwhelming and costly remediation process.

“This bill will take important steps to address this public health challenge and ensure homeowners can address the dangerous threat of lead poisoning in their paint, pipes or soil. Existing lead hazard control programs are not enough, families need direct and flexible resources to finally eliminate lead from their homes and protect their health.”

Lead-based paint was banned for residential use in 1978 but remains in many older homes. According to the Centers for Disease Control and Prevention, the health effects of lead exposure range from permanent neurological damage and developmental delays to memory loss, hearing loss and more, and in adults, lead poisoning is known to cause kidney, heart, and reproductive issues.

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