H.R. 169

119 HR 169 IH: Prevent Family Fire Act of 2025
 U.S. House of Representatives
 2025-01-03
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 169  IN THE HOUSE OF REPRESENTATIVES   January 3, 2025   Mr. Levin  (for himself,  Mr. Lawler ,  Mr. Boyle of Pennsylvania , and  Mrs. Kim ) introduced the following bill; which was referred to the  Committee on Ways and Means    A BILL
To amend the Internal Revenue Code of 1986 to allow for a credit against tax for sales at retail of safe firearm storage devices.
1.
Short title
This Act may be cited as the   Prevent Family Fire Act of 2025  .
2.
Safe firearm storage credit
(a)
In general
Subpart D of part IV of subchapter A of  chapter 1  of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:
45BB.
Safe firearm storage credit
(a)
Allowance of credit
For purposes of section 38, the safe firearm storage credit determined under this section for the taxable year is an amount equal to 10 percent of amounts received from the first retail sale of each safe firearm storage device sold by the taxpayer for use within the United States during the taxable year.
(b)
Limitations
(1)
$400 per device
The amounts received from a first retail sale that are taken into account under subsection (a) with respect to a safe firearm storage device shall not exceed $400 per device.
(2)
Fair market value
The amount taken into account under subsection (a) shall not include amounts in excess of the fair market value of such safe firearm storage device.
(c)
Definitions and special rules
For purposes of this section—
(1)
Determination of price
In determining price, there shall be excluded, if stated as a separate charge, the amount of any retail sales tax imposed by any State or political subdivision thereof or the District of Columbia, whether the liability for such tax is imposed on the vendor or vendee.
(2)
First retail sale
The term  first retail sale  means the first sale, for a purpose other than for resale or leasing in a long-term lease, after production, manufacture, or importation.
(3)
Safe firearm storage device
(A)
In general
The term  safe firearm storage device  means a device that is—
(i)
designed and marketed for the principal purpose of denying unauthorized access to, or rendering inoperable, a firearm or ammunition, and
(ii)
secured by a combination lock, key lock, or lock based on biometric information which—
(I)
is integrated into the design of the device, and
(II)
once locked, is incapable of being opened without the combination, key, or biometric information, respectively.
(B)
Exclusion
The term  safe firearm storage device  does not include—
(i)
any device which is incorporated to any extent into the design of a firearm or of ammunition, or
(ii)
any device that, as of the date of the sale described in subsection (a), has been subject to a mandatory recall by the Consumer Product Safety Commission.
(C)
Firearm; ammunition
The terms  firearm  and  ammunition  have the meanings given such terms in section 921 of title 18, United States Code (without regard to all that follows  firearm silencer  in paragraph (3) of such section).
(d)
Recapture
(1)
In general
The Secretary shall, by regulations, provide for recapturing the benefit of any credit allowable under subsection (a) if such credit is improperly or excessively claimed.
(2)
Documentation
The Secretary may require such information or registration as the Secretary deems necessary for purposes of recapture under paragraph (1).
(e)
Termination
This section shall not apply to sales after December 31, 2032.
 .
(b)
Credit made part of general business credit
Subsection (b) of  section 38  of the Internal Revenue Code of 1986 is amended by striking  plus  at the end of paragraph (40), by striking the period at the end of paragraph (41) and inserting  , plus , and by adding at the end the following new paragraph:
(42)
the safe firearm storage credit determined under section 45BB(a).
 .
(c)
Credit allowed against AMT
Section 38(c)(4)(B) of such Code is amended by redesignating clauses (x) through (xii) as clauses (xi) through (xiii), respectively, and by inserting after clause (ix) the following new clause:
(x)
the credit determined under section 45BB,
 .
(d)
Clerical amendment
The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item:
 Sec. 45BB. Safe firearm storage credit. .
(e)
Report
The Secretary of the Treasury shall make publicly available an annual report of the credits against tax allowed by reason of section 45BB (as added by this section), disaggregated by State.
(f)
Effective date
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.