BILL NUMBER: S3411
SPONSOR: COMRIE
 
TITLE OF BILL:
An act to amend the tax law, in relation to providing tax credits for
the installation of fire sprinkler systems
 
PURPOSE OR GENERAL IDEA OF BILL:
This bill would incentivize the installation of sprinkler system in
residential properties by providing a twenty-five percent tax credit to
residential property owners who install such systems.
 
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 amends the tax law to allow residential property owners who
install sprinkler systems to be eligible for a tax credit of twenty-live
percent of the cost of labor and materials needed to install such
system.
Section 2 amends section it of the tax law by adding a new subsection
that would allow residential property owners who install sprinkler
systems to be eligible for a tax credit of twenty-five percent of the
cost of labor and materials needed to install such system.
Section 3 sets forth an immediate effective date.
 
JUSTIFICATION:
On January 21, 2012, Kerry Rose Fitzsimons, Eva Block, and Kevin Johnson
were tragically killed in an off-campus house fire while attending
Marist College. The fire was so strong and so fast that none of the
three students were able to escape. What is known for certain was that
there was no sprinkler system installed in the off-campus home. Accord-
ing to the Fire Sprinkler Initiative, the availability of smoke detec-
tors, coupled with a maintained and operative sprinkler system installed
in a residence, decreases the risk of dying in a fire by over 80's.
Currently, however, sprinkler systems are only required in newly
constructed apartment buildings outside of the "Big 5" cities. Existing
apartment buildings-and any other type of residential dwelling-do not
currently require sprinkler systems.
It is therefore troubling that many residences in neighborhoods
surrounding colleges and universities which are rented to students
attending those institutions often do not have sprinkler systems
installed. The intent of this legislation is to appeal to those property
owners by offering a financial incentive to add a sprinkler system.
Providing a tax incentive will he beneficial not only to the owner the
property, but also to the tenants of the property if the sprinkler
system is installed.
 
PRIOR LEGISLATIVE HISTORY:
2024: S1843
2022: S3662B
A3885 of 2017-18: Referred to Ways and Means.
S3519 of 2017-18: Referred to Investigations and Government Operations.
 
FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
This act shall take effect immediately

Statutes affected:
S3411: 606 tax law, 210-B tax law