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.
High Rise Fire Sprinkler Incentive Act of 2024
This bill classifies any automatic fire sprinkler system retrofit property as 15-year property for purposes of accelerated depreciation using the straight line method. Such property is installed for use in residential property.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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