H.R.1792 - Fire Sprinkler Incentive Act

To amend the Internal Revenue Code of 1986 to include automated fire sprinkler systems as section 179 property and classify certain automated fire sprinkler systems as 15-year property for purposes of depreciation. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to include automated fire sprinkler systems as section 179 property and classify certain automated fire sprinkler systems as 15-year property for purposes of depreciation. as introduced.
  • Short: Fire Sprinkler Incentive Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
05/05/11
 
 
 
 
 
 
 

Sponsor

Representative

Aaron Schock

R-IL

View Co-Sponsors (51)

Official Summary

Fire Sprinkler Incentive Act - Amends the Internal Revenue Code to allow: (1) 100% expensing in a current taxable year of the cost of an automated fire sprinkler system, as defined by this Act; and (2) accelerated depreciation (i.e., a 15-year recovery period) of such an automated fire spri

Official Summary

Fire Sprinkler Incentive Act - Amends the Internal Revenue Code to allow:
(1) 100% expensing in a current taxable year of the cost of an automated fire sprinkler system, as defined by this Act; and
(2) accelerated depreciation (i.e., a 15-year recovery period) of such an automated fire sprinkler system that is installed in a building where the floor of any occupiable story is greater than 75 feet above the lowest level of fire department vehicle access.

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