FIRE SPRINKLER INCENTIVE ACT IS FILED in 114TH CONGRESS
BREAKING NEWS: FIRE SPRINKLER INCENTIVE ACT IS FILED in 114TH CONGRESS
On September 22nd, Sen. Susan Collins (R-Maine) and Sen. Tom Carper (D-Delaware) filed S. 2068 and Rep. Tom Reed (R- New York) and Rep. Jim Langevin (D-Rhode Island) introduced H.R. 3591, the companion house legislation to encourage building owners to invest in life-saving fire safety upgrades.
The Fire Sprinkler Incentive Act (FSIA) strengthens tax incentives for building owners to install fire sprinkler retrofits that can save many lives and countless dollars in property loss from fires every year. Currently, commercial building owners must depreciate fire sprinkler retrofits over a period of 39 years and residential building owners over 27 ½ years. The FSIA reclassifies fire sprinkler retrofits as 15-year depreciable property, allowing businesses to receive tax benefits more quickly.
The original legislation was introduced in 2004 following the tragic nightclub fire in West Warwick, RI that claimed 100 lives. Since then, the legislation has been reintroduced in subsequent Congresses with various changes made to address concerns raised by members of Congress regarding cost estimates. The current legislation has addressed those concerns.
“We applaud Senators Collins and Carper along with Representatives Langevin and Reed for their perseverance – life safety for citizens and firefighters is worth it,” explains Chief Shane Ray, President of the National Fire Sprinkler Association (NFSA). “This legislation will help fire chiefs, as well as state and local government officials make improvements in fire protection with a public private partnership that will save lives.”
Under the current legislation, automatic sprinklers could be treated as Section 179 property under the tax code. Section 179 allows small and medium-sized businesses to write off the full cost of equipment purchases, up to $125,000, in a single year. While automatic fire sprinklers are not currently classified as a Section 179 property, passage of the legislation would allow property owners to retrofit a large majority of high fire risk properties, such as certain off campus housing, night clubs, nursing homes and assisted living facilities.
The legislation would also create a financial incentive for high-rise building owners to install sprinkler systems by reducing the depreciation schedule to 15 years.
“We hope this will be the legislative session that sees passage of this important legislation,” adds Chief Ron Siarnicki, Executive Director of the National Fallen Firefighters Foundation (NFFF). “Firefighter and citizen lives will be saved as a result of this proactive incentive-based strategy that supports the NFFF Firefighter Life Safety Initiatives, specifically Initiative 15.”
“As a survivor of the Station Nightclub Fire, I understand the fire problem in these building types better than most,” explains Rob Feeney, a fire safety advocate for Common Voices and the Phoenix Society for Burn Survivors. “I lost friends and loved ones in that fire and it amazes me that it takes so long to pass a law that can prevent this from happening again. My hope is that this Congress will pass the bill and save lives in the future.”
For more information about fire sprinklers, how they work and access to additional resources and information, visit www.nfsa.org for the latest material, statistics and a dedicated team of fire safety advocates ready to serve all stakeholders in order to fulfill the vision of a safer world.fire protection contractor's insurance, fire protection liability insurance, fire suppression liability insurance, sprinkler contractor liability insurance, fire extinguisher liability insurance