Fire Sprinkler Incentive Act is filed in Congress

Sen. Susan Collins (R-Maine) and Sen. Tom Carper (D-Delaware) recently filed S. 2068, and Rep. Tom Reed (R-New York) and Rep. Jim Langevin (D-Rhode Island) recently introduced H.R. 3591, the Fire Sprinkler Incentive Act, in Congress. This legislation would make changes to the current federal tax code, providing an incentive to business owners for building safety improvements by making them eligible for Section 179 expensing or decreasing the current depreciation schedule from 39 years to 15 years. More on this story can be found here.