Bill Overview
Title: Asbestos Exposure in Housing Reduction Act of 2022
Description: This bill requires the seller or lessor of a dwelling to disclose to the purchaser or lessee any known asbestos-based hazards in the dwelling and provide any available asbestos hazard evaluation report. The bill also requires the seller or lessor to allow the purchaser or lessee a 10-day period to conduct a risk assessment or inspection for asbestos hazards. Further, the bill requires that every contract for the sale or lease of a dwelling contain an asbestos warning statement and that every purchaser of a dwelling acknowledge that the purchaser has read and understands the warning statement and had the 10-day period to conduct a risk assessment or inspection.
Sponsors: Rep. Torres, Norma J. [D-CA-35]
Target Audience
Population: Individuals living in older housing with potential asbestos exposure
Estimated Size: 30000000
- Asbestos is found in a large number of homes, particularly those built before regulations limited its use.
- The legislation affects both sellers and lessors who are responsible for disclosing asbestos information.
- Homebuyers and lessees will be directly impacted as they receive information about potential asbestos hazards, allowing them to make informed decisions.
- The impact is domestic due to the US housing market being the primary context.
Reasoning
- This policy mainly impacts individuals living in older housing structures where asbestos is present. Considering historical data, many older homes in the US, especially those built before the 1980s, may contain asbestos. This makes the policy mainly relevant in urban and suburban areas with a high concentration of older housing.
- The budget constraints necessitate focusing primarily on high-risk regions while ensuring widespread communication and assessment availability.
- The diversity in population includes younger adults who are first-time home buyers, middle-aged individuals who are potential sellers, senior citizens in long-term residencies, and lessor/lessee dynamics in rental markets.
- Some people may not be directly impacted by this policy if they are already aware of the asbestos hazard and have taken measures against it, or if they live in newer buildings. Incorporated within the simulation are various scenarios where the policy does not measurably alter welfare.
Simulated Interviews
Factory Worker (Detroit, MI)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 15/20
Statement of Opinion:
- I think the policy is good. Disclosing asbestos hazards can save lives.
- It might be a hassle for sellers, but it's necessary for safety.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
Real Estate Agent (Phoenix, AZ)
Age: 34 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- This regulation adds an extra layer of protection for my clients.
- It will make transactions smoother in the long term by setting clear expectations.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Tech Startup Employee (Austin, TX)
Age: 29 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 20.0 years
Commonness: 12/20
Statement of Opinion:
- I appreciate having more information before making such a big investment.
- This definitely adds to my peace of mind.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 9 | 7 |
Insurance Underwriter (New York, NY)
Age: 52 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 15.0 years
Commonness: 8/20
Statement of Opinion:
- Most people don't think about asbestos until it's too late.
- The policy could prevent health issues.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 5 |
Retired (Tucson, AZ)
Age: 66 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 9/20
Statement of Opinion:
- I'm glad to see more is being done to educate people about asbestos.
- I'm already mindful of these hazards, but it's good for others.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
Graduate Student (Los Angeles, CA)
Age: 24 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 11/20
Statement of Opinion:
- This is new information for me and a bit worrying.
- Knowing the risks and ways to manage them helps me feel safer.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Artist (Seattle, WA)
Age: 30 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- I'm relieved to have clear policies about asbestos hazards.
- Hoping this regulation will lead to broader safety reforms.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
Contractor (Chicago, IL)
Age: 55 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- This policy could mean more work for me in assessing and remediating asbestos.
- Overall, it's positive for health and safety.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
College Student (Miami, FL)
Age: 22 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 1.0 years
Commonness: 13/20
Statement of Opinion:
- I have little time to think about this issue, but I'm glad it's addressed.
- It reassures my family who worry about these things.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Educator (Buffalo, NY)
Age: 60 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 6/20
Statement of Opinion:
- Having a policy like this reinforces my decision to remediate asbestos years ago.
- I hope more people take advantage of this process to protect themselves.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Cost Estimates
Year 1: $25000000 (Low: $15000000, High: $40000000)
Year 2: $24000000 (Low: $14000000, High: $38000000)
Year 3: $23000000 (Low: $13000000, High: $37000000)
Year 5: $21000000 (Low: $11000000, High: $34000000)
Year 10: $18000000 (Low: $9000000, High: $30000000)
Year 100: $9000000 (Low: $5000000, High: $20000000)
Key Considerations
- Accurate assessment of asbestos presence in homes and associated disclosure procedures.
- Potential financial impacts on low-income homeowners and rental properties.
- Legal liabilities and potential compliance costs.
- Health benefits versus economic costs.