Bill to offer homeowners’ tax break to mitigate lead, asbestos approved by committee
NEW JERSEY – Senator Joe Pennacchio’s legislation to help homeowners remedy dangerous lead and asbestos in their homes has been approved by the Senate Environment and Energy Committee.
“This bill will make it easier for homeowners to do the right thing and have trained professionals remediate toxins and carcinogens from their property ensuring a healthy environment for current and future residents of the property,” said Pennacchio (R-26). “For the health of residents, it is crucial to mitigate the risks of lead and asbestos in the home, but hazard abatement is costly.”
Pennacchio’s bill (S-2200) would allow taxpayers to deduct up to $45,000 from gross income for lead paint and asbestos abatement expenses, the cost of replacing water lines that contain lead.
“Exposure to asbestos has been linked to lung cancer and other serious conditions. This bill will help eradicate these silent threats from our communities,” Pennacchio said. “These unhealthy issues can still be found in homes across the state. Lead can contribute to behavioral and learning issues and slowed growth in children, problems for pregnant women, and cardiac and blood pressure issues in adults.”
