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Tax Credit for Gun Safes: 90% Refund on Storage Costs.

This Act introduces a new, refundable tax credit covering 90% of the cost of purchasing a gun safe or ammunition storage device. This aims to encourage citizens to store firearms safely, potentially increasing household security. The maximum credit is $500 ($1,000 for joint filers) and is available starting in the 2025 tax year. After 2029, the credit will only apply to safes determined to be highly effective in preventing unauthorized access.
Key points
Refundable Tax Credit: You can receive a refund of 90% of the cost of a gun safe or ammunition storage device, even if you do not owe enough taxes.
Credit Limit: The maximum credit is $500 annually ($1,000 for married couples filing jointly), limited to one credit every 6 years.
Safe Requirements: Until the end of 2029, the credit applies to any gun safe. After 2029, it only applies to safes deemed highly effective by the Department of Health and Human Services.
Privacy Protection: You are not required to provide any information about firearms you own to claim this credit.
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Additional Information
Print number: 118_HR_8877
Sponsor: Rep. Williams, Nikema [D-GA-5]
Process start date: 2024-06-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

SAFES Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8877.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-06-27.

What are the main provisions?

Key points include:

  • Refundable Tax Credit: You can receive a refund of 90% of the cost of a gun safe or ammunition storage device, even if you do not owe enough taxes.
  • Credit Limit: The maximum credit is $500 annually ($1,000 for married couples filing jointly), limited to one credit every 6 years.
  • Safe Requirements: Until the end of 2029, the credit applies to any gun safe. After 2029, it only applies to safes deemed highly effective by the Department of Health and Human Services.
  • Privacy Protection: You are not required to provide any information about firearms you own to claim this credit.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Williams, Nikema [D-GA-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Security