Bill > S2200

This bill allows gross income tax deductions for amounts paid by taxpayers for the removal of lead, asbestos, sodium, chloride, and other contaminants from their residential properties. The deductions cover the costs of lead-based paint hazard abatement, asbestos hazard abatement, replacement of water service lines containing lead, replacement of plumbing containing lead, remediation of lead and other contaminants in soil, and replacement of leaded windows. Taxpayers whose private well water is contaminated with excessive levels of sodium or chloride can also deduct the costs of installing a water treatment system, replacing any connected pipes, and upgrading their septic system or leach field. The total deduction allowed per taxpayer is $45,000 per year, and the deductions are available regardless of the taxpayer's income level. The bill is effective immediately and will expire on December 31, 2025.