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

This act aims to encourage owners of high-rise residential buildings to install modern fire sprinkler systems. Thanks to the new regulations, the costs of such installations can be deducted from taxes more quickly, which may contribute to increased safety for residents.
Key points
Owners of residential buildings over 75 feet tall, built before the act's effective date, can deduct the costs of fire sprinkler system installations from taxes more quickly.
This change aims to improve fire safety in older, high-rise residential buildings, potentially enhancing residents' peace of mind.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_173
Sponsor: Rep. Malliotakis, Nicole [R-NY-11]
Process start date: 2025-01-03
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

High Rise Fire Sprinkler Incentive Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_173.

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 2025-01-03.

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 the costs of fire sprinkler system installations from taxes more quickly.
  • This change aims to improve fire safety in older, high-rise residential buildings, potentially enhancing residents' peace of mind.
What is the specific legal status?

The current status is Introduced.

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. Malliotakis, Nicole [R-NY-11].

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 2025-12-22.

CATEGORIES

Taxes Real Estate Security