Fire Sprinkler Incentive Act

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.

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Timeline

1. 22 September 2015

   Introduced

   Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S6896-6897)

   Source: IntroReferral

2. 22 September 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 22 September 2015 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 22 September 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 September 2015

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 22 September 2015

  Open at official source

Sponsors

• Susan Collins · R · Sponsor
• Rep. Carper, Thomas R. [D-DE-At Large] · D · Sponsor
• Sheldon Whitehouse · D · Cosponsor
• Richard Blumenthal · D · Cosponsor
• Sen. Feinstein, Dianne [D-CA] · D · Cosponsor
• Sen. Toomey, Patrick [R-PA] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Fire Sprinkler Incentive Act
• related to → Fire Sprinkler Incentive Act