Directs the Consumer Product Safety Commission to prescribe regulations classifying any children's product containing lead as a banned hazardous substance under the Hazardous Substances Act.
Defines "children's product containing lead" as any consumer product marketed for use by children under age six (or whose substantial use by such children is foreseeable) that contains more than trace amounts of lead as determined by the Commission and prescribed by regulations.
Requires the Commission, if it determines that it is not feasible for certain electronic devices to immediately comply with prescribed regulations, to: (1) issue standards to reduce exposure and accessibility to lead in such devices; and (2) establish a schedule for full compliance.