There is 1 version of this bill. View text

Click the check-box to add or remove the section, click the text link to scroll to that section.
Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Fire Sprinkler Incentive Act

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 to include automated fire sprinkler system retrofits as section 179 property and classify certain automated fire sprinkler system retrofits as 15-year property for purposes of depreciation.


Actions Overview (1)

Date
09/22/2015 Introduced in Senate

All Actions (1)

Date
09/22/2015 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S6896-6897)
Action By: Senate

Cosponsors (5)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Carper, Thomas R. [D-DE]* 09/22/2015
Sen. Whitehouse, Sheldon [D-RI] 10/07/2015
Sen. Blumenthal, Richard [D-CT] 02/03/2016
Sen. Feinstein, Dianne [D-CA] 03/07/2016
Sen. Toomey, Pat [R-PA] 04/26/2016

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Finance09/22/2015 Referred to

Related Bills (1)

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.

Subjects (4)

  • Business investment and capital
  • Fires
  • Income tax deductions

Latest Summary (1)

There is one summary for S.2068. View summaries

Shown Here:
Introduced in Senate (09/22/2015)

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.