GET THE LEAD OUT Act of 2021

Summary

Grants for Eliminating the Toxic Hazard of Environmental Lead in Our Towns Act of 2021 or GET THE LEAD OUT Act of 2021 This bill addresses lead-based hazards in housing. It also modifies the tax treatment of carried interest, which is compensation that is typically received by a partner of a private equity or hedge fund and is based on a share of the fund's profits, and the estate tax. The bill modifies the tax treatment of carried interest by requiring it to be included in gross income and taxed as ordinary income, with certain exceptions. Under current law, carried interest is taxed as investment income. In addition, the bill reduces the estate tax exemption amount from $10 million to $5 million. With respect to lead-based hazards, the bill allows the Department of Housing and Urban Development (HUD) to provide grants to state and local governments to reduce lead-based pipe hazards in housing. Additionally, HUD must require risk assessments, inspections, interim controls, and abatement of these hazards in federally assisted housing. HUD and the Environmental Protection Agency (EPA) must require the disclosure of such hazards in housing that is for sale or lease. Persons that fail to disclose such hazards are subject to civil penalties from HUD and may be liable to purchasers or lessees for damages. Additionally, the EPA must ensure that individuals who work with lead-based pipes have proper training and certification. States may enforce and administer such training and certification programs upon receiving EPA approval.

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Timeline

1. 25 February 2021

   Introduced

   Introduced in House

   Source: IntroReferral

2. 25 February 2021

   Introduced

   Referred to the Committee on Energy and Commerce, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 25 February 2021

   Introduced

   Introduced in House

   Source: IntroReferral

4. 26 February 2021

   Referred

   Referred to the Subcommittee on Environment and Climate Change.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 25 February 2021 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 February 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 February 2021

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 25 February 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Ryan, Tim [D-OH-13] · D · Sponsor
• Rep. Doyle, Michael F. [D-PA-14] · D · Sponsor
• · hsif00 · Standing
• · hswm00 · Standing
• · hsba00 · Standing

Related records

• related to → Carried Interest Fairness Act of 2021
• related to ← Carried Interest Fairness Act of 2021
• related to ← GET THE LEAD OUT Act of 2019