We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.

logo
  • Engineers & Specifiers
  • Contractors & Installers
  • Wholesalers & Distributors
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Free Subscription
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • PRODUCTS
    • Bath & Kitchen
    • Fire Protection
    • HVAC
    • Hydronics/Radiant
    • Plumbing
    • PVF
    • Tools
  • PROJECTS
    • Commercial
    • Green Building
    • MRO/Retrofit
    • Remodeling
    • Residential
  • HOW TO
    • Design
    • Fire Protection
    • Legal Matters
    • Management
  • BUSINESS
    • Buying Groups
    • Technology
    • Associations
  • CODES & STANDARDS
    • ANSI
    • ASHRAE
    • ASSE
    • Regulations
    • Green Building
    • IAPMO
    • ICC
    • NFPA
  • RESOURCES
    • Media Kit
    • Advertise
    • Contact Us
    • Classifieds
    • Digital Editions
    • Behind the Wall
    • Webinars
    • AHR Live 2023
  • PODCASTS
  • DIGITAL EDITIONS
Home » NFSA Applauds Fire Sprinkler Incentives in Tax Reform

NFSA Applauds Fire Sprinkler Incentives in Tax Reform

December 21, 2017
No Comments
NFSA Applauds Fire Sprinkler Incentives in Tax Reform

The National Fire Sprinkler Association praised sponsors and co-sponsors for their consistent leadership over the years that ensured fire sprinklers were included in the tax reform legislation passed by the House and Senate.

The Fire Sprinkler Incentive Act has been pushed for years. Fire protection has now been included and overall fire and life safety systems have joined other tax incentives, such as roofing, HVAC and security alarm systems.

"This accomplishment for fire and life safety has been 14 years in the making. To say we are excited is an understatement," explained Shane Ray, NFSA president. "Our NFSA team goal was to support Congressman Jim Langevin and all Congressional leaders over the years who sponsored and co-sponsored the bi-partisan legislation that was first filed following the tragic Station Nightclub fire in Rhode Island that claimed 100 lives in early 2003."

The NFSA team was led by long-time fire safety advocate Jim Dalton, who spent many days over the past 14 years meeting with legislators, their staffers, and fire service stakeholders who also championed this legislation. He was joined throughout this process by Vickie Pritchett, NFSA director of outreach and government relations.

"This provision in the tax reform bill will save lives," added Dalton, NFSA Senior Policy Advisor. "We are thankful for our partners from the Congressional Fire Services Institute, International Association of Fire Chiefs, International Association of Fire Fighters, National Fire Protection Association, National Fallen Firefighters Foundation, National Volunteer Fire Council, Common Voices, Security Industry Association, Phoenix Society for Burn Survivors, and others who championed this tax incentive."

The Tax Cuts and Jobs Act contained several critically important provisions that will provide significant incentives for property owners to install fire sprinklers. These include:

  • Small businesses will now be able to fully expense installation of fire sprinklers under section 179 of the tax code up to a cap of $1 million in each year of expense. This will allow for the retrofit and upgrading of numerous occupancies such as nightclubs. In addition, small businesses that may need to borrow money to pay for the retrofit will be able to fully deduct the interest expense on the loan.
  • Larger entities can fully expense capital expenses over the next five years. Starting in 2023, the amount that can be expensed will slowly taper down. This part of the provision means that fire chiefs and local policy officials can now ensure business owners have five years for full expensing, which we believe will provide the opportunity for many high-rise and other high-risk occupancy buildings to improve their fire safety features.
Codes & Standards Contractors & Installers Fire Protection Industry Community News Legal Plumbing PVF Sprinkler Systems Wholesalers & Distributors
  • Related Articles

    NFSA reacts to Fire Sprinkler Incentive Act

    NFSA Announces 2021 North American Fire Sprinkler Expo and Board of Directors Meeting

    Tax Reform and Economic Growth

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular

  • Chicago Plumber’s Union Dyes Chicago River Green for St. Patrick’s Day 2023

  • Six Truths About New DOE 2023 HVAC Efficiency Standards

  • Everything You Wanted to Know About Orangeburg Pipe (But Were Afraid To Ask)

  • The Basis for Most Plumbing Codes

Featured Video

Caleffi video thumb

The Gold Standard: Separation with NO Compromise

Industry Events

  • 26Mar

    MCAA 2023 Annual Convention

    Phoenix, AZ
  • 29Mar

    2023 SFPE European Conference & Expo

    Berlin ,
  • 11Apr

    ASA ELEVATE2023

    Charleston, SC
More Events

Subscribe to our newsletters & stay updated

Subscribe & Learn More

  • Tw03 2023 cover
    Learn More
  • Pe03 2023 cover
    Learn More
  • Phc03 2023 cover
    Learn More
  • Es 2022
    Learn More
Subscribe

More from PHCP Pros

  • Editorial Team
  • Home
  • Contact Us
  • About
  • Advertise

Follow Us

© 2023 All Rights Reserved

Design, CMS, Hosting & Web Development | ePublishing