SB 1299
An Act providing for a tax credit for retrofitting residential high-rise structures with an automatic fire sprinkler system and associated monitoring or detection devices.
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This act creates a tax credit for property owners in Pennsylvania’s cities of the first class who retrofit their residential high-rise buildings with automatic fire sprinkler systems and associated monitoring devices. The credit is equal to the amount spent on the retrofit or the property owner’s income tax liability, whichever is smaller. The Office of the Mayor in each city will administer the program and determine eligibility.
Key provisions
- Provides a tax credit for retrofitting residential high-rise structures.
- The credit is available to property owners in cities of the first class.
- The credit amount is equal to the cost of the retrofit or the property owner’s income tax liability.
- The Office of the Mayor will administer the program and determine eligibility.
- A specific application process and guidelines will be established by the Office of the Mayor.
- The definition of ‘residential high-rise structure’ will be determined by the Office of the Mayor.
- The tax credit applies to tax years beginning after December 31, 2026.
Who is affected
- Property owners of residential high-rise buildings
- Cities of the first class in Pennsylvania
- Residents of Pennsylvania cities of the first class
Notable changes
- This act establishes a new tax incentive for fire safety upgrades in high-rise buildings.
Sponsors
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Primary sponsor
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