Bill · S. 504· Senate(119-S-504)
High Rise Fire Sprinkler Incentive Act of 2025
- Introduced
- 2/10/2025
- Last activity
- 2/10/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Michael Bennet
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the ``High Rise Fire Sprinkler Incentive Act of 2025'', aims to amend the Internal Revenue Code of 1986. It seeks to classify certain automatic fire sprinkler system retrofits as 15-year property for depreciation purposes. To qualify, the sprinkler system must meet National Fire Protection Association 13 standards and be installed in residential property. Additionally, the building must have been placed in service before the installation and have an occupiable floor more than 75 feet above the lowest level of fire department vehicle access. These changes would take effect after the date of the Act's enactment.
Yes· 3 of 6
Does this cut taxes for small businesses?+3
The bill allows for faster depreciation of fire sprinkler system retrofits, which provides a tax advantage to those investing in residential property improvements.
Does this make it easier to run a small business?+2
The accelerated depreciation schedule benefits property owners and developers by reducing their immediate tax burden through capital investments.
Would high-income households be better off under this?+2
The depreciation benefit is most easily utilized by those with significant residential property investments.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Tax Incentives for Fire Safety: By classifying these retrofits as 15-year property for depreciation, the bill provides a specific tax treatment for certain sprinkler systems (Section 2(a) and 2(b)). This could encourage the installation of safety systems in residential buildings.
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Enhanced Safety in High-Rise Residential Buildings: The bill specifically targets systems installed in residential buildings with floors more than 75 feet above fire department access (Section 2(d)(C)). This focus targets high-rise residential structures.
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Standardized Safety Requirements: The bill requires that the sprinkler systems meet the standards of the National Fire Protection Association 13 (Section 2(d)(A)). This ensures a specific level of quality for the retrofit property.
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Reduces Small Business Taxes+3Improves Small Business Support+2Improves Economic Growth+1
- Demographic And Interest Groups
- Good For High Income Households+2Good For Urban Residents+2
- Social Issues And Justice
- Improves Affordable Housing+1
- 2/10/2025
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Susan CollinsRepublican · Maine