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The Fire Sprinkler Incentive Act (FSIA) is … The Fire Sprinkler Incentive Act (FSIA) is the name of a piece of legislation that has been introduced in both the House and the Senate since 2003. The legislation would amend the 1986 Internal Revenue Code by classifying fire sprinkler retrofits as either a Section 179 depreciation deduction or a fifteen-year property for purposes of depreciation. Currently the tax depreciation time for commercial property is 39 years and 27.5 for residential. The FSIA would allow for a more rapid recovery of cost, and would reduce the annual economic and human losses that fire in the U.S. inflicts on the national economy, environment, and quality of life. Passage of the FSIA would be consistent with past practice at the federal level, where Congress has historically provided incentives and left decisions regarding adoption of fire protection requirements up to state and local government.irements up to state and local government.
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The Fire Sprinkler Incentive Act (FSIA) is … The Fire Sprinkler Incentive Act (FSIA) is the name of a piece of legislation that has been introduced in both the House and the Senate since 2003. The legislation would amend the 1986 Internal Revenue Code by classifying fire sprinkler retrofits as either a Section 179 depreciation deduction or a fifteen-year property for purposes of depreciation. Currently the tax depreciation time for commercial property is 39 years and 27.5 for residential.erty is 39 years and 27.5 for residential.
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