S.1035 - Fire Sprinkler Incentive Act of 2011

A bill 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

  • Short: Fire Sprinkler Incentive Act of 2011 as introduced.
  • Official: A bill 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.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
05/18/11
 
 
 
 
 
 
 

Sponsor

Senator

Thomas Carper

D-DE

View Co-Sponsors (5)

Official Summary

5/19/2011--Introduced.Fire Sprinkler Incentive Act of 2011 - 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)

Official Summary

5/19/2011--Introduced.Fire Sprinkler Incentive Act of 2011 - 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 systems 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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