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FIRE SPRINKLER INCENTIVE ACT INTRODUCED IN THE SENATE
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On January 22nd, Senators Tom Carper (DE) and Susan Collins (ME) introduced the Fire Sprinkler Incentive Act in the Senate. This bill would amend the Internal Revenue Code of 1986 to classify automatic fire sprinkler systems as 5-year property for purposes of depreciation. The bill, S. 2947, was referred to the Senate Finance Committee for consideration. Both Senator Carper and Senator Collins are co-chairs of the Congressional Fire Services Caucus.
"Senator Carper and Senator Collins are to be commended for introducing the Fire Sprinkler Incentive Act in the Senate," said CFSI Executive Director Bill Webb. "Passage of this legislation can have a significant impact in reducing the number of deaths and injuries caused by fire."
On February 25, 2009, Congressman Jim Langevin (RI-2) introduced similar legislation, H.R. 1194, in the House of Representatives. The House version currently has 111 co-sponsors and was referred to the House Committee on Ways and Means.
CFSI will continue to provide updates as this legislation moves through the legislative process.
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