Federal Tax Break For Fire-Sprinkler Systems
The Mechanical Contractors Association of America and local affiliates have been meeting with sponsors of a federal bill on fire-sprinkler systems, H.R. 1824, which would provide a substantial tax benefit to building owners who equip their property with new or retrofitted fire-sprinkler systems. Rep. Curt Weldon, R-Pa., and Rep. James Langevin, D-R.I., are sponsoring the bill. If enacted, it would accelerate the depreciation schedule of such systems from 38 years to five years. The bill has 48 co-sponsors and has been referred to the House Ways and Means Committee.