Automatic sprinkler systems; tax credit for initial installation. (SB363)

Introduced By

Sen. John Watkins (R-Midlothian)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Installation of automatic sprinkler systems; tax credit for initial installation. Requires that all buildings that (i) are more than 75 feet high or more than six stories high, (ii) are being used to house individuals or to provide guest rooms for occupancy, and (iii) are not equipped with an automatic sprinkler system would be equipped with an automatic sprinkler system by December 31, 2017. The Board of Housing and Community Development would be required to promulgate regulations establishing standards for the automatic sprinkler system. The bill also would make available to the owners of such building an income tax credit equal to 45% of the total amount paid by the owner for the initial installation of the sprinkler system. The tax credit could be carried forward for 10 years. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2008Prefiled and ordered printed; offered 01/09/08 082853744
01/08/2008Referred to Committee on General Laws and Technology
01/15/2008Impact statement from TAX (SB363)
01/23/2008Continued to 2009 in General Laws and Technology (15-Y 0-N) (see vote tally)
12/05/2008Left in General Laws and Technology