The FSIA will be reintroduced in the new Congress that began on January 1, 2013 as the FSIA of 2013. It is expected that sponsors again will be Schock (R-IL) and Langevin (D-RI) in the House and Carper (D-DE) and Collins (R-ME) in the Senate. The Bill has not changed in it's scope and will still attempt to reclassify fire sprinkler retrofits as a 179 property in the tax code, which will allow for rapid recovery of cost of retrofitting smaller occupancies like night clubs, off campus student housing, nursing homes, other care type facility and other smaller occupancies. It will also again attempt to reduce the depreciation schedule for retrofit of high rise occupancies from the present 39 years commercial and 27.5 years residential to 15 years. As soon as bills are introduced and we have new bill numbers, this information will be updated.
For questions, contact:
Jim "JD" Dalton
National Fire Sprinkler Association
P. O. Box 460
Amissville, VA 20106