Radon Gas Tax Relief Act of 1989
Radon Gas Tax Relief Act of 1989 - Amends the Internal Revenue Code to permit a 40 percent nonrefundable income tax credit of up to $4,000 for expenditures made for radon testing in or below the taxpayer's principal residence and for the installation of property designed to reduce radon levels inside the residence.
Permits an income tax deduction (both individual and corporate) for radon prevention expenditures in connection with real property development, building construction or enlargement, and certain relocation dwellings.
Makes the tax credit and the tax deduction mutually exclusive with respect to the same expenditures.
Amends Federal law to make funds available for the reimbursement of Federal employees for radon protection expenditures necessary to overcome a substantial obstacle to the salability of a principal residence being sold in conjunction with a transfer to a new location.
Referred to the Subcommittee on Government Activities and Transportation.