Allows gross income tax deduction for removal of lead, asbestos, sodium, chloride, and other contaminants from residential property.
New Jersey S4125 allows a gross income tax deduction for expenses related to the removal of lead, asbestos, sodium, chloride, and other contaminants from a taxpayer's residential property. This includes costs for lead-based paint hazard abatement, asbestos hazard abatement, replacement of leaded windows, and remediation of contaminated soil. It also covers expenses for installing a water treatment system, replacing pipes, and upgrading septic systems due to sodium or chloride contamination.
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