Bill > HR5099

This bill introduces a refundable tax credit to incentivize individuals to purchase gun safes as a way to enhance firearm safety. The bill allows taxpayers to claim a credit equal to 90% of the cost of a gun safe, with a maximum credit of $500 for individual returns and $1,000 for joint returns, which can be claimed no more than once every six years. To qualify, the gun safe must be new and designed specifically to prevent unauthorized access, such as through combination locks, key locks, or biometric locks that cannot be opened without the proper authentication. For taxable years beginning before January 1, 2031, any qualifying gun safe is eligible, while after that date, only gun safes determined by the Secretary of Health and Human Services to be highly effective in preventing unauthorized access will qualify. The bill also requires the Department of Health and Human Services to publish a report within five years identifying the most effective types of gun safes. Importantly, the bill explicitly prohibits requiring taxpayers to provide any information about their firearms when claiming the credit, addressing potential privacy concerns. The tax credit will become effective for taxable years beginning after December 31, 2025.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/5099/all-info