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119-s-504119th CongressWALLET

High Rise Fire Sprinkler Incentive Act of 2025

Sponsored By: Senator Bennet, Michael F. [D-CO]

Introduced

Summary

Would let owners of qualifying high-rise residential buildings treat automatic fire sprinkler retrofits as 15‑year property for depreciation under MACRS. This change applies to sprinklers that meet NFPA 13, are installed in residential buildings placed in service earlier, and are in buildings with an occupiable floor more than 75 feet above the lowest level of fire department vehicle access.

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  • High-rise residential property owners: Would be able to depreciate qualifying sprinkler retrofit equipment over 15 years, allowing faster tax recovery of installation costs.
  • Tax treatment changes: Adds the retrofit property to the list of depreciable classes and inserts a 39‑year recovery entry into the alternative depreciation table.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Tax break for high-rise sprinkler retrofits

If enacted, owners of qualifying high-rise residential buildings would be able to depreciate sprinkler retrofit costs over 15 years for tax purposes. The bill also adds a 39-year entry for an alternate depreciation system. To qualify, the sprinkler must meet NFPA 13 and be installed for residential use. The building must have been placed in service before installation and have an occupiable floor more than 75 feet above the lowest level of fire department vehicle access. These rules would apply after the date of enactment.

Sponsors & CoSponsors

Sponsor

Bennet, Michael F. [D-CO]

CO • D

Cosponsors

  • Sen. Collins, Susan M. [R-ME]

    ME • R

    Sponsored 2/10/2025

Roll Call Votes

No roll call votes available for this bill.

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