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Bill

A 4020

Provides a tax credit for the installation of certain fire sprinkler systems

2025 Regular Session Introduced by Sam Berger

Bill A 4020 offers tax credits to property owners for installing fire sprinkler systems, enhancing safety, reducing fire damage, and saving lives in communities.

REFERRED TO WAYS AND MEANS
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Bill Summary · A 4020

Summary of Bill A 4020

Overview

Bill Number: A 4020
Title: Provides a tax credit for the installation of certain fire sprinkler systems
Status: Referred to Ways and Means
Introduced: January 30, 2025
Classification: Bill

Purpose and Intent

The primary aim of Bill A 4020 is to encourage the installation of fire sprinkler systems in residential and commercial buildings by offering a tax credit. This initiative seeks to enhance fire safety, reduce property damage, and potentially save lives by promoting the adoption of fire suppression technology.

Key Provisions

  • Tax Credit: The bill proposes a tax credit for property owners who install qualifying fire sprinkler systems. The specifics of the credit amount and eligibility criteria will be determined in the legislative process.
  • Qualifying Systems: The bill will define which types of fire sprinkler systems are eligible for the tax credit, focusing on systems that meet certain safety standards and regulations.
  • Implementation Timeline: The bill outlines a timeline for the implementation of the tax credit, although specific dates and phases will be established during the legislative process.

Affected Parties

  • Property Owners: Homeowners and commercial property owners who install eligible fire sprinkler systems will benefit from the tax credit.
  • Fire Safety Industry: Manufacturers and installers of fire sprinkler systems may see increased demand for their products and services as a result of the tax incentive.
  • Local Governments: Municipalities may experience a reduction in fire-related incidents and associated costs, potentially leading to lower insurance premiums and improved public safety outcomes.

Legislative Context

Bill A 4020 is part of a broader legislative effort to enhance fire safety measures. It is related to several prior-session bills (S 2587, S 5260, S 3519, S 5488, S 3662, S 1843, S 3411) that have addressed similar issues. The bill has been referred to the Ways and Means Committee for further consideration and discussion.

Conclusion

Bill A 4020 represents a proactive approach to improving fire safety through financial incentives for property owners. By promoting the installation of fire sprinkler systems, the bill aims to reduce the risks associated with fire hazards, benefiting both individuals and communities as a whole. Further developments will clarify the specifics of the tax credit and its implementation.

Compiled from official sources — confirm details with the bill’s official record.

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