[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 2947 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 2947

 To amend the Internal Revenue Code of 1986 to classify automatic fire 
   sprinkler systems as 5-year property for purposes of depreciation.


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                   IN THE SENATE OF THE UNITED STATES

                            January 22, 2010

Mr. Carper (for himself and Ms. Collins) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to classify automatic fire 
   sprinkler systems as 5-year property for purposes of depreciation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fire Sprinkler Incentive Act of 
2010''.

SEC. 2. CLASSIFICATION OF AUTOMATIC FIRE SPRINKLER SYSTEMS.

    (a) In General.--Subparagraph (B) of section 168(e)(3) of the 
Internal Revenue Code of 1986 (relating to 5-year property) is amended 
by striking ``and'' at the end of clause (vi), by striking the period 
at the end of clause (vii) and inserting ``, and'', and by adding at 
the end the following:
                            ``(viii) any automated fire sprinkler 
                        system placed in service after April 11, 2003, 
                        in a building or structure which was placed in 
                        service before such date.''.
    (b) Alternative System.--The table contained in section 
168(g)(3)(B) of the Internal Revenue Code of 1986 is amended by 
inserting after the item relating to subparagraph (B)(vii) the 
following:

``(B)(viii).................................................       7''.
    (c) Definition of Automatic Fire Sprinkler System.--Subsection (i) 
of section 168 of the Internal Revenue Code of 1986 is amended by 
adding at the end the following new paragraph:
            ``(20) Automated fire sprinkler system.--The term 
        `automated fire sprinkler system' means those sprinkler systems 
        classified under one or more of the following publications of 
        the National Fire Protection Association--
                    ``(A) NFPA 13, Installation of Sprinkler Systems,
                    ``(B) NFPA 13 D, Installation of Sprinkler Systems 
                in One and Two Family Dwellings and Manufactured Homes, 
                and
                    ``(C) NFPA 13 R, Installation of Sprinkler Systems 
                in Residential Occupancies up to and Including Four 
                Stories in Height.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to property placed in service after April 11, 2003.
    (e) Waiver of Limitations.--If refund or credit of any overpayment 
of tax resulting from the amendments made by this section is prevented 
at any time before the close of the 1-year period beginning on the date 
of the enactment of this Act by the operation of any law or rule of law 
(including res judicata), such refund or credit may nevertheless be 
made or allowed if claim therefor is filed before the close of such 
period.
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