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Amends subsections (d)(1)(G) and (e) to (1) replace the phrase 'secure gun storage or safety devices' with 'a variety of secure gun storage or safety devices, including full-size gun safes, lock boxes and lockers, gun cases, or cable and trigger locks,' (2) replace 'a secure gun storage or safety device' with 'secure gun storage or safety devices', and (3) replace 'a device' with 'devices'.
Adds new section 25F to Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code establishing a nonrefundable credit for individuals equal to amounts paid or incurred for the purchase of a qualified gun safe, with a $500 annual limit (reduced by prior credits), definitions of qualified property, basis reduction, and rules preventing double benefit.
Requires licensed firearms sellers to provide secure-storage information to non-licensed buyers before any sale, delivery, or transfer and directs the Attorney General to define what that information must include. Requires licensed sellers to offer a variety of secure storage devices for sale in their stores. Establishes a new individual tax credit for purchasing a qualified gun safe, with definitions, a lifetime cap, and anti-double‑benefit rules. The sales/offering requirements start six months after enactment; the tax changes apply to taxable years beginning after enactment.
Referred to the Committee on the Judiciary, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced February 12, 2025 by Mikie Sherrill · Last progress February 12, 2025