Title: SAFETY Act Start Advancing Firearms Enhancements and Technology Act of 2018
Subject: Taxation: Advanced technology and technological innovations: Firearms and explosives: Income tax credits: Income tax deductions: Licensing and registrations: Small business: Sales and excise taxes
Description: SAFETY Act Start Advancing Firearms Enhancements and Technology Act of 2018 This bill 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: Referred to the House Committee on Ways and Means.
Last Action Date: January 31, 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 House Of Representatives sponsoring bill: 2% (8 of 435)
|House||Jan 31, 2019||Introduced in House|
|House||Jan 31, 2019||Referred to the House Committee on Ways and Means.|
|Introduced||Feb 13 2019||federal link||bill text|
|There are no amendments to this bill at this time|
Committee Name: Ways And Means
There have not been any votes on this bill
Comments On This Bill
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