“To amend the Internal Revenue Code of 1986 to provide a refundable tax credit for certain gun safes.”
No CRS summary available for this bill.
This section establishes a new refundable income tax credit under IRC §36C for individuals equal to 90% of amounts paid during the taxable year for qualified gun safes, capped at $500 ($1,000 for joint returns) reduced by credits allowed under this section in the prior six taxable years, for taxable years beginning after December 31, 2025. A qualified gun safe is a new device (original use with the taxpayer) designed and marketed to deny unauthorized access to firearms or ammunition via combination, key, or biometric lock; any such gun safe qualifies through 2030, but only those deemed highly effective by the HHS Secretary (per a report under §3 of the SAFES Act) qualify thereafter. The section also makes conforming amendments to include the credit in IRC deficiency procedures (§6211) and advance refund provisions (31 USC §1324(b)).
This section directs the Secretary of Health and Human Services to make publicly available, not later than five years after enactment, a report identifying types of gun safes—as defined in section 36C(c) of the Internal Revenue Code of 1986—that are highly effective in preventing unauthorized access.