To amend the Internal Revenue Code of 1986 to allow for a credit against tax for sales at retail of safe firearm storage devices.

Hozzl · 2025-01-08T13:40:05Z

Explore the details of House Bill 169 To amend the Internal Revenue Code of 1986 to allow for a credit against tax for sales at retail of safe firearm storage devices. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

1/8/2025, 1:40 PM

Summary of Bill HR 169

Bill 119 HR 169, also known as the Safe Gun Storage Tax Credit Act, aims to amend the Internal Revenue Code of 1986 to provide a tax credit for the sales of safe firearm storage devices. The bill proposes to offer a credit against tax for retailers who sell these devices, which are designed to securely store firearms and prevent unauthorized access.

The purpose of this legislation is to incentivize the use of safe firearm storage devices, ultimately promoting responsible gun ownership and reducing the risk of accidents or misuse of firearms. By offering a tax credit to retailers, the bill seeks to make these devices more accessible and affordable for gun owners.

If passed, the Safe Gun Storage Tax Credit Act would have implications for both retailers and consumers in the firearms industry. Retailers would be able to benefit from a tax credit for selling safe storage devices, while consumers would have greater access to these products at a potentially lower cost. Overall, this bill addresses the important issue of gun safety and responsible firearm ownership by encouraging the use of safe storage devices. It will be interesting to see how this legislation progresses through Congress and what impact it may have on the firearms industry and public safety.

Congressional Summary of HR 169

Prevent Family Fire Act of 2025

This bill establishes a new business tax credit on the sale of a safe firearm storage device on or before December 31, 2032.

The amount of the tax credit is 10% of the retail sales price (up to a maximum price of $400 and excluding separately stated sales tax) of a safe firearm storage device. The tax credit is allowed only on the first retail sale of a safe firearm storage device for a use other than resale or long-term lease.

The bill defines safe firearm storage device as a device that is (1) designed and marketed to deny unauthorized access to a firearm or ammunition or render such items inoperable; and (2) is secured by a combination lock, key lock, or lock based on biometric information.

Current Status of Bill HR 169

Bill HR 169 is currently in the status of Bill Introduced since January 3, 2025. Bill HR 169 was introduced during Congress 119 and was introduced to the House on January 3, 2025. Bill HR 169's most recent activity was Referred to the House Committee on Ways and Means. as of January 3, 2025

Bipartisan Support of Bill HR 169

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Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 169

Primary Policy Focus

Alternate Title(s) of Bill HR 169

To amend the Internal Revenue Code of 1986 to allow for a credit against tax for sales at retail of safe firearm storage devices.To amend the Internal Revenue Code of 1986 to allow for a credit against tax for sales at retail of safe firearm storage devices.

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