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Tax incentives for fire sprinkler systems in high-rise residential buildings.

New regulations aim to encourage owners of high-rise residential buildings to install automatic fire sprinkler systems. This allows the costs of such installations to be deducted from taxes more quickly, potentially increasing resident safety.
Key points
Owners of residential buildings over 75 feet tall, built before the act's effective date, can deduct fire sprinkler installation costs from taxes more quickly.
The provisions apply to systems meeting fire safety standards, enhancing life and property protection in high-rise buildings.
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Expired
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Additional Information
Print number: 117_S_3346
Sponsor: Sen. Bennet, Michael F. [D-CO]
Process start date: 2021-12-08
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Summarized by: gemini-2.5-flash-preview-05-20
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_S_3346.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-12-08.

What are the main provisions?

Key points include:

  • Owners of residential buildings over 75 feet tall, built before the act's effective date, can deduct fire sprinkler installation costs from taxes more quickly.
  • The provisions apply to systems meeting fire safety standards, enhancing life and property protection in high-rise 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 Sen. Bennet, Michael F. [D-CO].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Real Estate Security