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High Rise Fire Sprinkler Incentive Act of 2025
To amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation.
Summary
This bill amends the tax code to classify automatic fire sprinkler system retrofits installed in high-rise residential buildings as 15-year property for depreciation purposes, providing tax incentives for building owners to install fire safety equipment. The bill applies specifically to retrofits in buildings taller than 75 feet that meet National Fire Protection Association standards. Under the regular depreciation method, owners can depreciate the cost over 15 years; under the alternative depreciation system, the property is classified as 39-year property. The tax treatment is effective after the bill's enactment and aims to encourage fire safety upgrades in existing high-rise residential buildings.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
8 cosponsors
Actions (2)
- Jan 3, 2025 Referred to the House Committee on Ways and Means. · house
- Jan 3, 2025 Introduced in House
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Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
January 3, 2025
Ms. Malliotakis introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “High Rise Fire Sprinkler Incentive Act of 2025”.
SEC. 2. CLASSIFICATION OF CERTAIN AUTOMATIC FIRE SPRINKLER SYSTEM RETROFITS.
(a) Treatment as 15-Year Property.—Section 168(e)(3)(E) of the Internal Revenue Code of 1986 is amended by striking “and” at the end of clause (vi), by striking the period at the end of clause (vii) and inserting “, and”, and by adding at the end the following:
“(viii) any automatic fire sprinkler system retrofit property.”.
(b) Applicable Depreciation Method.—Section 168(b)(3) of such Code is amended by adding at the end the following new subparagraph:
“(H) Any automatic fire sprinkler system retrofit property.”.
(c) Alternative System.—The table contained in section 168(g)(3)(B) of such Code is amended by inserting after the item relating to subparagraph (E)(vii) the following:
“(E)(viii)................................................ 39”.
(d) Definition of Automatic Fire Sprinkler System Retrofit Property.—Section 168(i) of such Code is amended by adding at the end the following new paragraph:
“(20) Automatic fire sprinkler system retrofit property.— The term ‘automatic fire sprinkler system retrofit property’ means any sprinkler system which—
“(A) meets the standards of National Fire Protection Association 13 (or any successor benchmark),
“(B) is installed for use in residential property, and
“(C) is installed in a building which—
“(i) was placed in service before the date of such installation, and
“(ii) has an occupiable floor more than 75 feet above the lowest level of fire department vehicle access.”.
(e) Effective Date.—The amendments made by this section shall apply after the date of enactment of this Act. <all>
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