Sec. 7. Tax credit for firearm safety courses and firearm safety storage devices
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/bill/117/hr/1691/ih/section-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25D the following new section: In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 5 percent of so much of the qualified firearm safety expenditures of the taxpayer for the taxable year as does not exceed $2,000. For purposes of this section— The term qualified firearm safety expenditures means an amount paid or incurred by the taxpayer— for the purchase of a firearm safety storage device the first use of which is by the taxpayer, or which is required for enrollment and attendance by the taxpayer in any firearm safety course which is completed by the taxpayer.
The term firearm safety storage device means any device— the principal purpose of which is denying unauthorized access to, or rendering inoperable, a firearm or ammunition, and which, when locked, can only be opened by combination, key, or biometric information. A course shall not be treated as a firearm safety course for purposes of this section unless such course is certified by the State in which it is held. . The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 25D the following new item:
Sec. 25E. Firearm safety credit. . The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.