Bill Introduced to Require Lead Remediation on Older OZ Residential Property

Friday, July 26, 2019 - 9:15am

Reps. Elijah E. Cummings D-Md., and Rashida Tlaib, D, Mich., introduced legislation Thursday to require lead remediation for certain buildings in opportunity zones (OZs). H.R. 4011, The Opportunity Zone Lead Remediation Impact Act of 2019, would require investors in OZ residential property built before 1978 to fund lead-based paint poisoning and prevention efforts and a complete remediation before being considered to have “substantially improved” the property. The substantial-improvement standard is required for eligibility for the OZ incentive.