posted February 17, 2007
Sen. Lamar Alexander joined several key colleagues in re-introducing tax legislation that would help encourage the retrofitting of older buildings with modern automatic fire sprinklers, calling it “a small provision in the tax code that is undoubtedly a big deal for America’s firefighters.”
Under existing law, the cost of retrofitting an existing building with sprinklers would typically be depreciated over a 39 year period (27.5 years in some instances). The Fire Sprinkler Incentive Act, which Sen. Alexander also cosponsored in the previous session of Congress, would reduce the depreciation period to five years.
“As good as fire sprinklers are, the cost of retrofitting them to older buildings can be prohibitive,” he said. “The tax code currently acts as a deterrent because it offers an extremely low rate of return on investment. It’s hard to think of another area where a little tinkering could have such a significant positive impact. It’s literally a matter of saving lives.”
America’s fire departments responded to about 1.6 million fires in 2005. These fires caused more than 3,600 deaths – 87 of which were firefighters themselves – and nearly 18,000 civilian injuries, as well as more than $10 billion in property damage.
Sprinklers have been shown to dramatically reduce property damage, and the National Fire Protection Association has no record of a fire killing more than two people in a completely sprinklered public assembly, educational, institutional or residential building where the system was properly installed and fully operational.
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