To amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation., changes federal law or congressional policy affecting environmental regulators and natural-resource users. The main policy domain is Environment, Transportation, Immigration.
Who Benefits and How
environmental regulators and natural-resource users may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, environmental regulators and natural-resource users may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H0AFCCAA9D04B4E75B0920E83C0E027E7: 1. Short title This Act may be cited as the High Rise Fire Sprinkler Incentive Act of 2024.
- Section H67F46E53B2A54E75A94AE2D3E766D79C: 2. Classification of certain automatic fire sprinkler system retrofits Section 168(e)(3)(E) of the Internal Revenue Code of 1986 is amended by striking and at...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation., changes federal law or congressional policy affecting environmental regulators and natural-resource users.
Key Policy Areas
Environment, Transportation, Immigration
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation., changes federal law or congressional policy affecting environmental regulators and natural-resource users.
Policy Domains
Whole bill
Identified Gains
- environmental regulators and natural-resource users
Identified Costs
- federal implementing agencies
- environmental regulators and natural-resource users
Sponsors
Legislative Progress
IntroducedMr. Bennet (for himself and Ms. Collins) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology