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Fire Sprinkler Tax Code
The MSPTA believes that updating the fire sprinkler tax code is essential to the safety and livelihood of those living and working in the mountain states.
Improving Safety
We actively support the Fire Sprinkler Incentive Act (FSIA). This legislation would update the Internal Revenue Code to allow property owners to make a tax deduction and claim fire sprinkler system installation costs as an expense.
An updated FSIA could save hundreds of thousands of dollars, and more importantly, save the lives of people living and working in residential and commercial buildings.
According to the National Fire Incident Reporting System, having functional fire sprinkler systems can reduce civilian deaths by an average of 84 percent.
Additionally, property owners can expect to see a 5 to 15 percent decrease in their insurance premiums when they install or retrofit a fire sprinkler system, according to the United Association (UA).
Creating Jobs
An updated FSIA will also spur job creation in the mountain states. The need to install and update fire suppression systems will create thousands of jobs for local sprinkler fitters.
According to the UA, updating the code will put an estimated 9,800 sprinkler fitters to work, earning quality wages and benefits.
