Toxic Mold. (In Session).
The bill would have created a national toxic mold hazard insurance program, similar to the federal flood insurance program, in order to address the growing number of claims against policies for costs related to mold dean-up and health hazards. Sections 201 through 206 of the bill address inspection requirements for residential properties, building code requirements and construction requirements. The Act did prescribe tax credits for toxic mold inspection and remediation, a component the Institute will monitor to ensure its inclusion in any new legislation. H.R. 1268 does prescribe tax credits for toxic mold inspection and remediation. The Institute will monitor this bills progress to ensure these provisions are not removed from the bill.
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|Title Annotation:||United States Toxic Mold Safety and Protection Act of 2002, H.R 5040 under Congressional review|
|Publication:||Journal of Property Management|
|Article Type:||Brief Article|
|Date:||May 1, 2003|
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