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.
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.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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