To amend the Public Health Service Act to establish an entitlement of States and certain political subdivisions of States to receive grants for the abatement of health hazards associated with lead-based paint, and to amend the Internal Revenue Code of 1986 to impose an excise tax and establish a trust fund to satisfy the Federal obligations arising from such entitlement.

Lead-Based Paint Hazard Abatement Act - Title I: Abatement of Lead-Based Paint Hazards - Amends the Public Health Service Act to establish a program of formula allotments to States and city and urban entities for abatement of lead-based paint hazards. Sets requirements for annually increasing matching funds. Describes grant purposes, including inspection of residential and child...