H.R. 173 aims to amend the Internal Revenue Code of 1986 to allow certain retrofitted fire sprinkler systems to be classified as "15-year property" for tax depreciation purposes. This means that building owners who install these systems can recover some of their installation...
Simple Explanation
H.R. 173 is a plan to let building owners save tax money by spreading out the cost of putting in special fire sprinkler systems over 15 years, especially for tall buildings. This helps make important safety upgrades more affordable.