Pennsylvania SB1299 provides a tax credit for retrofitting residential high-rise structures with automatic fire sprinkler systems and monitoring.

Pennsylvania SB1299 establishes a tax credit for owners of residential high-rise structures to cover the cost of retrofitting with automatic fire sprinkler systems and associated monitoring or detection devices. The credit amount equals the expenditure on these improvements or the claim for tax credit, whichever is less. The Office of the Mayor of a city of the first class will define what constitutes a residential high-rise structure and administer the tax credit application process.

Pennsylvania SB1299 provides a tax credit for retrofitting residential high-rise structures with automatic fire sprinkler systems and monitoring.

Pennsylvania SB1299 establishes a tax credit for owners of residential high-rise structures to cover the cost of retrofitting with automatic fire sprinkler systems and associated monitoring or detection devices. The credit amount equals the expenditure on these improvements or the claim for tax credit, whichever is less. The Office of the Mayor of a city of the first class will define what constitutes a residential high-rise structure and administer the tax credit application process.