arrow_back Back to App

Tax Credit for Retail Sales of Safe Firearm Storage Devices.

This Act introduces a new tax credit for retail sellers of safe firearm storage devices. Citizens may benefit indirectly from potentially lower prices for these devices, encouraging safer storage of firearms in homes. The goal is to reduce the risk of family fire incidents by providing financial support to businesses offering safes and locks.
Key points
New Tax Credit: Retail sellers can claim a credit equal to 10% of the revenue from the first retail sale of safe firearm storage devices.
Credit Limit: The maximum revenue amount considered for the credit is limited to $400 per device.
Device Definition: The device must be designed to deny unauthorized access to a firearm or ammunition, secured by a combination, key, or biometric lock.
Duration: The tax credit provision is set to terminate for sales made after December 31, 2032.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_169
Sponsor: Rep. Levin, Mike [D-CA-49]
Process start date: 2025-01-03
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Prevent Family Fire Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_169.

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 2025-01-03.

What are the main provisions?

Key points include:

  • New Tax Credit: Retail sellers can claim a credit equal to 10% of the revenue from the first retail sale of safe firearm storage devices.
  • Credit Limit: The maximum revenue amount considered for the credit is limited to $400 per device.
  • Device Definition: The device must be designed to deny unauthorized access to a firearm or ammunition, secured by a combination, key, or biometric lock.
  • Duration: The tax credit provision is set to terminate for sales made after December 31, 2032.
What is the specific legal status?

The current status is Introduced.

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. Levin, Mike [D-CA-49].

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 2025-12-23.

CATEGORIES

Taxes Security Family