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Tax Break for High-Rise Fire Sprinkler Systems

This bill changes tax rules to encourage owners of certain tall residential buildings to install fire sprinkler systems. It allows them to deduct the cost of these systems faster on their taxes, potentially making buildings safer for residents.
Key points
Building owners can deduct the cost of installing specific fire sprinkler systems in older, tall residential buildings over 15 years instead of a longer period.
This tax change applies to sprinkler systems meeting safety standards in residential buildings over 75 feet high built before the sprinkler installation.
The goal is to make it more financially attractive for owners to upgrade fire safety in these buildings.
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Expired
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Additional Information
Print number: 117_HR_6192
Sponsor: Rep. Pascrell, Bill, Jr. [D-NJ-9]
Process start date: 2021-12-08
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

High Rise Fire Sprinkler Incentive Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6192.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-12-08.

What are the main provisions?

Key points include:

  • Building owners can deduct the cost of installing specific fire sprinkler systems in older, tall residential buildings over 15 years instead of a longer period.
  • This tax change applies to sprinkler systems meeting safety standards in residential buildings over 75 feet high built before the sprinkler installation.
  • The goal is to make it more financially attractive for owners to upgrade fire safety in these buildings.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Pascrell, Bill, Jr. [D-NJ-9].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Real Estate Security