H.R. 1481 · 115th Congress
Fire Sprinkler Incentive Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ReedSponsor7 cosponsors · 6 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to allow: (1) 100% expensing in a current taxable year of the cost of automated fire sprinkler system retrofit property, as defined by this bill; and (2) accelerated depreciation (i.e., a 15-year recovery period) of automated fire sprinkler system retrofit property that has a certain classification by the National…
What it does: CRS summary · Introduced in House · Mar 9, 2017
Fire Sprinkler Incentive Act
This bill amends the Internal Revenue Code to allow: (1) 100% expensing in a current taxable year of the cost of automated fire sprinkler system retrofit property, as defined by this bill; and (2) accelerated depreciation (i.e., a 15-year recovery period) of automated fire sprinkler system retrofit property that has a certain classification by the National Fire Protection Association and is installed in a building or structure that was placed in service before the sprinkler system and has an occupiable story that is greater than 75 feet above the lowest level of fire department vehicle access.
"Automated fire sprinkler system retrofit property" does not include any sprinkler system required to be installed under state or local law due to the degree of additions or improvements made to a building or structure.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Fire Sprinkler Incentive Act
Latest action (Mar 9, 2017): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 9, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.