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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.
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Status:
Introduced
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Additional Information
High Rise Fire Sprinkler Incentive Act of 2025
Print number: HR 173
Sponsor: Rep. Malliotakis, Nicole [R-NY-11]
Process start date: 2025-01-03