Bill > A04936

This bill provides a tax credit for residential property owners who install fire sprinkler systems. The credit is equal to 25% of the cost of labor and materials for the installation, and can be claimed on the state income tax return. The credit is only available for properties in municipalities that do not already require fire sprinkler systems to be installed. If the credit exceeds the taxpayer's tax liability for the year, the excess can be refunded, but no interest will be paid on the refund.