Title: SAFETY Act Start Advancing Firearms Enhancements and Technology Act of 2019
Subject: Taxation: Advanced technology and technological innovations: Firearms and explosives: Income tax credits: Income tax deductions: Licensing and registrations: Research and development: Sales and excise taxes: Small business
Description: Increases the rate of the research tax credit from 20% to 30% for research expenses to develop smart gun technologies. The bill also modifies the excise tax on the sale of firearms to exempt the portion of the sale price that is attributable to smart gun technology. "Smart gun technology" is technology (other than a simple mechanical lock) that is designed to (1) prevent a firearm from being fired by any individual other than an authorized user; and (2) convert the firearm from the inoperable condition to the operable condition in less than two seconds after the authorized user makes contact with the firearm, the firearm's arming device, or an external safe or locking device.
Session: 116th Congress
Last Action: Read twice and referred to the Committee on Finance.
Last Action Date: June 18, 2019
Note: the first sponsor listed is normally the primary sponsor. If a sponsor's name is a hyperlink you can click on it to 'follow the money'.
Percentage of Senate sponsoring bill: 2% (2 of 100)
|Senate||Jun 18, 2019||Read twice and referred to the Committee on Finance.|
|Introduced||Jun 25 2019||federal link||bill text|
|There are no amendments to this bill at this time|
Committee Name: Finance
Votes - Click on description to view vote roll call
There have not been any votes on this bill
Comments On This Bill
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