H.R. 3591 · 114th Congress
Fire Sprinkler Incentive Act
- Stage
- In committee
- Sponsor
- Tom Reed
- Introduced
- 2015-09-22
- Latest action
- 2015-09-22 · Introduced in House
Summary
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 Act; and (2) accelerated depreciation (i.e., a 15-year recovery period) of automated fire sprinkler system retrofit property that is installed in a building or structure where the floor of any occupiable story is greater than 75 feet above the lowest level of fire department vehicle access and that has a certain classification by the National Fire Protection Association.