Issue: Tax Reform
SIA supports comprehensive tax reform that helps businesses and encourages economic growth. Since 2003, SIA has sought changes to the tax code that would allow businesses to fully expense the cost of implementing safety and security measures that benefit their customers and employees, in the year such costs are incurred. However, under current law these costs must be capitalized and depreciated over the 39-year depreciation life of a building.
SIA supports S. 1144, the Investment in New Ventures and Economic Success Today (INVEST) Act (Sen. John Thune, R-SD), which among other provisions allows small and medium sized businesses to fully expense building improvements related specifically to roofs, HVAC, fire protection and alarm systems, and security systems.
SIA Position Statements
SIA Urges Congressional Conferees to Adopt Business Deduction Tax Reform
SIA and other associations urged House and Senate tax negotiators to include deductions for business expensing for security and life safety technology upgrades under Section 179 of the tax code in a final tax reform bill.
SIA Leads Industry Support for Reforming Tax Treatment of Building Improvements
SIA and other associations expressed strong support for the expansion of business expensing under Section 179 of the tax code, which has been made a major priority in both House and Senate versions of the Tax Cuts and Jobs Act.