Lead-Based Paint Hazard Abatement Act

Lead-Based Paint Hazard Abatement Act - Title I: Abatement of Lead-Based Paint Hazards - Amends the Public Health Service Act to establish a program of formula allotments to States and city and urban entities for abatement of lead-based paint hazards. Sets requirements for annually increasing matching funds.

Describes grant purposes, including inspection of residential and child day-care structures for lead hazards, removal of hazards, housing for displaced occupants, and counseling on lead poisoning. Allows grant abatement expenditures only if the income of a residential structure's occupants is 80 percent or less of the median income of the geographic area; or, for other eligible structures, only if a public health service agency has determined the structure is a significant-hazard structure.

Prescribes rulemaking procedures for the issuance of program standards, requiring the use of specified regulations of the State of Massachusetts if a final rule is not issued within one year.

Requires the establishment of an advisory council to supply advice on the administration of the program.

Sets forth additional standards regarding authorized grant activities, planning requirements, annual reports, and allotment reallocations.

Title II: Lead Abatement Trust Fund - Amends the Internal Revenue Code to impose a tax on lead removed from any U.S. smelter and imported lead and lead products of 75 cents per pound for primary lead and 37 cents per pound for secondary lead. Terminates the tax after ten years.

Establishes the Lead Abatement Trust Fund in the Treasury.

Title III: General Provisions - Sets forth the effective dates for the formula grants and the imposition of the excise tax.