Allows gross income tax deduction for amounts paid for removal of lead, asbestos, sodium, chloride, and other contaminants from taxpayer's property.

This New Jersey bill allows homeowners to deduct up to $45,000 from their gross income for costs associated with removing hazardous contaminants from their residential properties. The measure specifically covers expenses related to lead and asbestos abatement, replacing lead pipes and windows, and treating private well water contaminated with sodium or chloride. To claim the deduction, taxpayers must provide affidavits from their local municipality confirming that the work was performed by certified contractors. The provision applies to all income levels and includes a retroactive option for expenses incurred between January 1, 2018, and the bill's enactment, with the tax benefit set to expire on December 31, 2027.