Regulations, or an appropriate State agency pursu-
ant to section 745.325 of title 40, Code of Federal 
Regulations. 
‘‘(7) DOCUMENTATION REQUIRED FOR CREDIT 
ALLOWANCE.—No credit shall be allowed under sub-
section (a) with respect to any eligible dwelling unit 
unless— 
‘‘(A) after lead abatement is complete, a 
certified inspector or certified risk assessor pro-
vides written documentation to the taxpayer 
that includes— 
‘‘(i) 
a 
certification 
that 
the 
postabatement procedures (as defined by 
section 745.227 of title 40, Code of Fed-
eral Regulations) have been performed and 
that the unit does not contain lead dust 
hazards 
(as 
defined 
by 
section 
745.227(e)(8)(viii) of title 40, Code of 
Federal Regulations), and 
‘‘(ii) documentation showing that the 
lead abatement meets the requirements of 
this section, and 
‘‘(B) the taxpayer files with the appro-
priate State agency—
‘‘(i) the documentation described in 
subparagraph (A), 
‘‘(ii) a receipt from the certified risk 
assessor documenting the costs of deter-
mining the presence of a lead-based paint 
hazard, 
‘‘(iii) a receipt from the certified lead 
abatement supervisor documenting the 
abatement cost (other than the costs de-
scribed in paragraph (1)(A)(i)), and 
‘‘(iv) a statement indicating the age of 
the dwelling unit. 
‘‘(8) BASIS
REDUCTION.—The basis of any 
property for which a credit is allowable under sub-
section (a) shall be reduced by the amount of such 
credit (determined without regard to subsection (d)). 
‘‘(d) LIMITATION BASED ON AMOUNT OF TAX.—The 
credit allowed under subsection (a) for the taxable year 
shall not exceed the excess of— 
‘‘(1) the sum of the regular tax liability (as de-
fined in section 26(b)) plus the tax imposed by sec-
tion 55, over 
‘‘(2) the sum of the credits allowable under sub-
part A and sections 27, 29, 30, and 30A for the tax-
able year.
‘‘(e) CARRYFORWARD ALLOWED.— 
‘‘(1) IN GENERAL.—If the credit amount allow-
able under subsection (a) for a taxable year exceeds 
the amount of the limitation under subsection (d) 
for such taxable year (referred to as the ‘unused 
credit year’ in this subsection), such excess shall be 
allowed as a credit carryforward for each of the 20 
taxable years following the unused credit year. 
‘‘(2) RULES.—Rules similar to the rules of sec-
tion 39 shall apply with respect to the credit 
carryforward under paragraph (1).’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Section 1016(a) of such Code is amended 
by striking ‘‘and’’ in paragraph (30), by striking the 
period and inserting ‘‘, and’’ in paragraph (31), and 
by inserting at the end the following new paragraph: 
‘‘(32) in the case of an eligible dwelling unit 
with respect to which a credit for lead abatement 
was allowed under section 30B, to the extent pro-
vided in section 30B(c)(8).’’. 
(2) The table of sections for subpart B of part 
IV of subchapter A of chapter 1 of such Code is 
amended by inserting after the item relating to sec-
tion 30A the following new item: 
‘‘Sec. 30B. Home lead abatement.’’.
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to abatement costs incurred after 
December 31, 2005, in taxable years ending after that 
date. 
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