Fire Sprinkler Incentive Act

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.

[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1792 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 1792

 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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 5, 2011

  Mr. Schock (for himself and Mr. Langevin) 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 include automated fire 
    sprinkler systems as section 179 property and classify certain 
 automated fire sprinkler systems 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 ``Fire Sprinkler Incentive Act''.

SEC. 2. AUTOMATED FIRE SPRINKLER SYSTEMS TREATED AS SECTION 179 
              PROPERTY.

    (a) In General.--Section 179 of the Internal Revenue Code of 1986 
is amended by adding at the end the following new subsection:
    ``(g) Special Rules for Automated Fire Sprinkler Systems.--
            ``(1) In general.--If a taxpayer elects the application of 
        this subsection for any taxable year, the term `section 179 
        property' shall include any automated fire sprinkler system.
            ``(2) Automated fire sprinkler system.--For purposes of 
        this subsection, the term `automated fire sprinkler system' 
        means those sprinkler systems classified under one or more of 
        the following:
                    ``(A) National Fire Protection Association 13, 
                Installation of Sprinkler Systems.
                    ``(B) National Fire Protection Association 13 D, 
                Installation of Sprinkler Systems in One and Two Family 
                Dwellings and Manufactured Homes or International 
                Residential Code Section P2904, Dwelling Unit Fire 
                Sprinkler Systems.
                    ``(C) National Fire Protection Association 13 R, 
                Installation of Sprinkler Systems in Residential 
                Occupancies up to and Including Four Stories in 
                Height.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 2010.

SEC. 3. CLASSIFICATION OF CERTAIN AUTOMATED FIRE SPRINKLER SYSTEMS.

    (a) Treatment as 15-Year Property.--Subparagraph (E) of section 
168(e)(3) of the Internal Revenue Code of 1986 is amended by striking 
``and'' at the end of clause (viii), by striking the period at the end 
of clause (ix) and inserting ``, and'', and by adding at the end the 
following:
                            ``(x) any specified automated fire 
                        sprinkler system.''.
    (b) Applicable Depreciation Method.--Paragraph (3) of section 
168(b) of the Internal Revenue Code of 1986 is amended by adding at the 
end the following new subparagraph:
                    ``(J) Any specified automated fire sprinkler 
                system.''.
    (c) Alternative System.--The table contained in section 
168(g)(3)(B) of the Internal Revenue Code of 1986 is amended by 
inserting after the item relating to subparagraph (E)(ix) the 
following:

``(E)(x)....................................................      39''.
    (d) Definition of Specified Automated Fire Sprinkler System.--
Subsection (i) of section 168 of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new paragraph:
            ``(20) Specified automated fire sprinkler system.--The term 
        `specified automated fire sprinkler system' means any automated 
        fire sprinkler system (as defined in section 179(g)(2)) which 
        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.''.
    (e) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 2010.
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