High Rise Fire Sprinkler Incentive Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 173 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 173 To amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 3, 2025 Ms. Malliotakis introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``High Rise Fire Sprinkler Incentive Act of 2025''. SEC. 2. CLASSIFICATION OF CERTAIN AUTOMATIC FIRE SPRINKLER SYSTEM RETROFITS. (a) Treatment as 15-Year Property.--Section 168(e)(3)(E) of the Internal Revenue Code of 1986 is amended by striking ``and'' at the end of clause (vi), by striking the period at the end of clause (vii) and inserting ``, and'', and by adding at the end the following: ``(viii) any automatic fire sprinkler system retrofit property.''. (b) Applicable Depreciation Method.--Section 168(b)(3) of such Code is amended by adding at the end the following new subparagraph: ``(H) Any automatic fire sprinkler system retrofit property.''. (c) Alternative System.--The table contained in section 168(g)(3)(B) of such Code is amended by inserting after the item relating to subparagraph (E)(vii) the following: ------------------------------------------------------------------------ ``(E)(viii)................................................ 39''. ------------------------------------------------------------------------ (d) Definition of Autom