HR169-119

1. Short title This Act may be cited as the Prevent Family Fire Act of 2025.

2. Safe firearm storage credit Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: For purposes of section 38, the safe firearm storage credit determined under this section for the taxable year is an amount equal to 10 percent of amounts received from the first retail sale of each safe firearm storage device sold by the taxpayer for use within the United States during the taxable year. The amounts received from a first retail sale that are taken into account under subsection (a) with respect to a safe firearm storage device shall not exceed $400 per device. The amount taken into account under subsection (a) shall not include amounts in excess of the fair market value of such safe firearm storage device. For purposes of this section— In determining price, there shall be excluded, if stated as a separate charge, the amount of any retail sales tax imposed by any State or political subdivision thereof or the District of Columbia, whether the liability for such tax is imposed on the vendor or vendee. The term first retail sale means the first sale, for a purpose other than for resale or leasing in a long-term lease, after production, manufacture, or importation. The term safe firearm storage device means a device that is— designed and marketed for the principal purpose of denying unauthorized access to, or rendering inoperable, a firearm or ammunition, and secured by a combination lock, key lock, or lock based on biometric information which— is integrated into the design of the device, and once locked, is incapable of being opened without the combination, key, or biometric information, respectively. The term safe firearm storage device does not include— any device which is incorporated to any extent into the design of a firearm or of ammunition, or any device that, as of the date of the sale described in subsection (a), has been subject to a mandatory recall by the Consumer Product Safety Commission. The terms firearm and ammunition have the meanings given such terms in section 921 of title 18, United States Code (without regard to all that follows firearm silencer in paragraph (3) of such section). The Secretary shall, by regulations, provide for recapturing the benefit of any credit allowable under subsection (a) if such credit is improperly or excessively claimed. The Secretary may require such information or registration as the Secretary deems necessary for purposes of recapture under paragraph (1). This section shall not apply to sales after December 31, 2032. Subsection (b) of section 38 of the Internal Revenue Code of 1986 is amended by striking plus at the end of paragraph (40), by striking the period at the end of paragraph (41) and inserting , plus, and by adding at the end the following new paragraph: the safe firearm storage credit determined under section 45BB(a). Section 38(c)(4)(B) of such Code is amended by redesignating clauses (x) through (xii) as clauses (xi) through (xiii), respectively, and by inserting after clause (ix) the following new clause: the credit determined under section 45BB, The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: The Secretary of the Treasury shall make publicly available an annual report of the credits against tax allowed by reason of section 45BB (as added by this section), disaggregated by State. The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. 45BB.Safe firearm storage credit(a)Allowance of creditFor purposes of section 38, the safe firearm storage credit determined under this section for the taxable year is an amount equal to 10 percent of amounts received from the first retail sale of each safe firearm storage device sold by the taxpayer for use within the United States during the taxable year.(b)Limitations(1)$400 per deviceThe amounts received from a first retail sale that are taken into account under subsection (a) with respect to a safe firearm storage device shall not exceed $400 per device.(2)Fair market valueThe amount taken into account under subsection (a) shall not include amounts in excess of the fair market value of such safe firearm storage device. (c)Definitions and special rulesFor purposes of this section—(1)Determination of priceIn determining price, there shall be excluded, if stated as a separate charge, the amount of any retail sales tax imposed by any State or political subdivision thereof or the District of Columbia, whether the liability for such tax is imposed on the vendor or vendee.(2)First retail saleThe term first retail sale means the first sale, for a purpose other than for resale or leasing in a long-term lease, after production, manufacture, or importation.(3)Safe firearm storage device(A)In generalThe term safe firearm storage device means a device that is—(i)designed and marketed for the principal purpose of denying unauthorized access to, or rendering inoperable, a firearm or ammunition, and(ii)secured by a combination lock, key lock, or lock based on biometric information which—(I)is integrated into the design of the device, and (II)once locked, is incapable of being opened without the combination, key, or biometric information, respectively.(B)ExclusionThe term safe firearm storage device does not include—(i)any device which is incorporated to any extent into the design of a firearm or of ammunition, or(ii)any device that, as of the date of the sale described in subsection (a), has been subject to a mandatory recall by the Consumer Product Safety Commission.(C)Firearm; ammunitionThe terms firearm and ammunition have the meanings given such terms in section 921 of title 18, United States Code (without regard to all that follows firearm silencer in paragraph (3) of such section).(d)Recapture(1)In generalThe Secretary shall, by regulations, provide for recapturing the benefit of any credit allowable under subsection (a) if such credit is improperly or excessively claimed.(2)DocumentationThe Secretary may require such information or registration as the Secretary deems necessary for purposes of recapture under paragraph (1). (e)TerminationThis section shall not apply to sales after December 31, 2032.. (42)the safe firearm storage credit determined under section 45BB(a).. (x)the credit determined under section 45BB,.

45BB. Safe firearm storage credit For purposes of section 38, the safe firearm storage credit determined under this section for the taxable year is an amount equal to 10 percent of amounts received from the first retail sale of each safe firearm storage device sold by the taxpayer for use within the United States during the taxable year. The amounts received from a first retail sale that are taken into account under subsection (a) with respect to a safe firearm storage device shall not exceed $400 per device. The amount taken into account under subsection (a) shall not include amounts in excess of the fair market value of such safe firearm storage device. For purposes of this section— In determining price, there shall be excluded, if stated as a separate charge, the amount of any retail sales tax imposed by any State or political subdivision thereof or the District of Columbia, whether the liability for such tax is imposed on the vendor or vendee. The term first retail sale means the first sale, for a purpose other than for resale or leasing in a long-term lease, after production, manufacture, or importation. The term safe firearm storage device means a device that is— designed and marketed for the principal purpose of denying unauthorized access to, or rendering inoperable, a firearm or ammunition, and secured by a combination lock, key lock, or lock based on biometric information which— is integrated into the design of the device, and once locked, is incapable of being opened without the combination, key, or biometric information, respectively. The term safe firearm storage device does not include— any device which is incorporated to any extent into the design of a firearm or of ammunition, or any device that, as of the date of the sale described in subsection (a), has been subject to a mandatory recall by the Consumer Product Safety Commission. The terms firearm and ammunition have the meanings given such terms in section 921 of title 18, United States Code (without regard to all that follows firearm silencer in paragraph (3) of such section). The Secretary shall, by regulations, provide for recapturing the benefit of any credit allowable under subsection (a) if such credit is improperly or excessively claimed. The Secretary may require such information or registration as the Secretary deems necessary for purposes of recapture under paragraph (1). This section shall not apply to sales after December 31, 2032.