S.Amdt. 5125

1. Adds SEC. ___. NONREFUNDABLE TAX CREDIT FOR GUN SAFES AND GUN SAFETY COURSES wherever appropriate

   Adds a section

   Inserted: SEC. ___. NONREFUNDABLE TAX CREDIT FOR GUN SAFES AND GUN SAFETY COURSES.

   Inserted: (a) In General.--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:

   Inserted: "SEC. 25E. FIREARM SAFETY CREDIT.

   Inserted: "(a) Allowance of Credit.--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 the sum of--

   Inserted: "(1) the amount paid by the taxpayer for any gun safe that is placed into service by the taxpayer during the taxable year, and

   Inserted: "(2) the amount paid by the taxpayer during the taxable year for a concealed carry firearms course or a firearm safety course which--

   Inserted: "(A) is taught by a firearms instructor certified by the State to teach such course, or

   Inserted: "(B) satisfies the training requirement, if any, for any license or permit related to a firearm (including a hunting license) which is issued under the authority of State law.

   Inserted: "(b) Limitations.--

   Inserted: "(1) In general.--The amount of the credit allowable to a taxpayer under subsection (a) for any taxable year shall not exceed--

   Inserted: "(A) for purposes of the credit allowable under paragraph (1) of such subsection, $100, and

   Inserted: "(B) for purposes of the credit allowable under paragraph (2) of such subsection, $100.

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   Inserted: "(2) Gun safes.--No credit under subsection (a)(1) shall be allowed to any taxpayer if a credit has been allowed under such subsection to the taxpayer for any of the 10 preceding taxable years.

   Inserted: "(c) Prohibition on Collection of Information Regarding Firearms.--No taxpayer shall be required, as a condition of the credit allowed under this section, to provide any information with respect to any firearms owned by the taxpayer.".

   Inserted: (b) Conforming Amendment.--The table of sections for subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 25D the following new item:

   Inserted: "Sec. 25E. Firearm safety credit.".

   Inserted: (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after the date of enactment of this Act.

   The amendment doesn't say where this goes; the clerk decides.

   Original wording

   At the appropriate place, insert the following:

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As printed