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On January 22^nd, United States Senators Tom Carper (DE) and Susan Collins (ME) introduced the Fire Sprinkler Incentive Act in the Senate.  This bill would amend the Internal Revenue Code of 1986 to classify automatic fire sprinkler systems as 5-year property for purposes of depreciation.  In addition, the benefits of this legislation would include lower local fire department costs, increased loan activity, reduced insurance claims and premium costs, and increased retrofitting and installation jobs. 

The bill, S. 2947, was referred to the Senate Finance Committee for consideration.  Both Senator Carper and Senator Collins are co-chairs of the Congressional Fire Services Caucus. 

"Senator Carper and Senator Collins are to be commended for introducing the Fire Sprinkler Incentive Act in the Senate," said CFSI Executive Director Bill Webb.  "Passage of this legislation can have a significant impact in reducing the number of deaths and injuries caused by fire."

(NOTE:  This legislation has died in the last three Congressional sessions.)