118th Congress · SENATE BILLBILL

S. 4234High Rise Fire Sprinkler Incentive Act of 2024

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.

Taxation
Introduced May 1, 2024
Last action May 1, 2024
Pipeline · Bill → Law
Step 1
Introduced
May 1, 2024
Step 2
Referred
May 1, 2024
Finance
Step 3
Committee
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

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.

Provisions · 2 sectionsIntroduced in Senate
Timeline · 2 actions
May 1, 2024
Introduced in Senate
May 1, 2024
Read twice and referred to the Committee on Finance.