The bill amends The Fiscal Code, originally enacted on April 9, 1929, by adding a new section that grants first-class cities the authority to establish property tax abatement or real property tax relief programs. These programs are intended to incentivize investments in retrofitting residential high-rise buildings with automatic fire sprinkler systems and associated monitoring or detection devices. This initiative aims to enhance fire safety in high-rise residential structures.

The new legal language introduced in the bill specifically outlines the provisions for the retrofitting of these buildings, emphasizing the importance of automatic fire sprinkler systems. The bill does not include any deletions from the current law but focuses on expanding the existing framework to improve safety measures in urban residential environments. The act is set to take effect 60 days after its passage.

Statutes/Laws affected:
Printer's No. 2044 (Jun 27, 2025): P.L.343, No.176