Weldon and Santorum Introduce Fire Sprinkler Incentive Act

Washington, D.C. – Congressman Curt Weldon (R-PA) and Senator Rick Santorum (R-PA) will introduce legislation to create tax incentives for property owners who install automatic fire sprinkler systems.

“The benefits of the fire sprinkler systems have long been known,” said Congressman Weldon. “In fact, the National Fire Protection Association has no record of a fire killing more than two people in a public assembly, educational, institutional or residential building with a complete and fully operational automatic fire sprinkler system.”

The House version of the Fire Sprinkler Incentive Act, authored by Congressman Weldon and Congressman Jim Langevin (D-RI), would encourage property owners to install sprinkler systems by reducing the tax depreciation time on nonresidential real property from 39 years to only five. This bill when passed will be retroactive to April 11, 2003. The benefits of this bill include increased loan activity, reduced insurance claims and premium costs, increased retrofitting and installation jobs, and the generation of payroll tax revenue. Most importantly, this bill could save lives and billions of dollars in property damage.

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