Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 173 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 173
To amend the Internal Revenue Code of 1986 to classify certain
automatic fire sprinkler system retrofits as 15-year property for
purposes of depreciation.
_______________________________________________________________________
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.
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