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S 2575 114th Congress Senate Taxation Hazardous wastes and toxic substances Income tax credits Residential rehabilitation and home repair

Healthy Homes Tax Credit Act

Introduced: February 24, 2016 Introduced by: Murphy, Christopher Democratic · Connecticut See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 24, 2016
Introduced in Senate
Feb 24, 2016
Read twice and referred to the Committee on Finance.
 Plain-English summary Congressional Research Service

Healthy Homes Tax Credit Act

This bill amends the Internal Revenue Code to allow new tax credits for 50% of: (1) lead hazard reduction activity costs, (2) radon hazard reduction activity costs, and (3) asbestos hazard reduction activity costs. These costs must be incurred with respect to an eligible dwelling and the credit for such costs is generally limited to $5,000 for any eligible dwelling in any taxable year, reduced by costs taken into account in previous taxable years.

The bill defines an "eligible dwelling" generally as a dwelling unit that is: (1) placed in service before 1950; (2) located in the United States; and (3) a house, apartment, condominium, mobile home, boat, or similar property, but not a unit used exclusively as a hotel, motel, inn, or similar establishment.

What's happening now February 24, 2016

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1