Child Protection and Home Safety Act of 2005 - Amends the Internal Revenue Code to allow a nonrefundable tax credit for up to 25 percent of the cost of a qualified residential gun safe. Defines "qualified residential gun safe" as a container not intended for the display of firearms which is specifically designed to store or safeguard firearms from unauthorized access and which meets established performance standards. Limits the amount of such credit to $250.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 1598 Introduced in Senate (IS)]
109th CONGRESS
1st Session
S. 1598
To amend the Internal Revenue Code of 1986 to provide for a
nonrefundable tax credit against income tax for individuals who
purchase a residential safe storage device for the safe storage of
firearms.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 29, 2005
Mr. Hatch (for himself, Mr. Craig, Mr. Burns, Mr. Smith, Mrs. Lincoln,
and Mr. Schumer) introduced the following bill; which was read twice
and referred to the Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to provide for a
nonrefundable tax credit against income tax for individuals who
purchase a residential safe storage device for the safe storage of
firearms.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Child Protection and Home Safety Act
of 2005''.
SEC. 2. CREDIT FOR RESIDENTIAL GUN SAFE PURCHASES.
(a) In General.--Subpart A of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to nonrefundable
personal credits) is amended by inserting after section 25B the
following new section:
``SEC. 25C. PURCHASE OF RESIDENTIAL GUN SAFES.
``(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 25 percent of the amount paid
or incurred by the taxpayer during such taxable year for the purchase
of a qualified residential gun safe.
``(b) Limitations.--
``(1) Maximum credit.--The credit allowed under subsection
(a) with respect to any qualified residential gun safe shall
not exceed $250.
``(2) Carryforward of unused credit.--If the credit
allowable under subsection (a) for any taxable year exceeds the
limitation imposed by section 26(a) for such taxable year
reduced by the sum of the credits allowable under this subpart
(other than this section and section 23), such excess shall be
carried to the succeeding taxable year and added to the credit
allowable under subsection (a) for such taxable year. No credit
may be carried forward under this subsection to any taxable
year following the third taxable year after the taxable year in
which the purchase or purchases are made. For purposes of the
preceding sentence, credits shall be treated as used on a
first-in first-out basis.
``(c) Qualified Residential Gun Safe.--For purposes of this
section, the term `qualified residential gun safe' means a container
not intended for the display of firearms which is specifically designed
to store or safeguard firearms from unauthorized access and which meets
a performance standard for an adequate security level established by
objective testing.
``(d) Special Rules.--
``(1) Denial of double benefit.--No deduction shall be
allowed under this chapter with respect to any expense which is
taken into account in determining the credit under this
section.
``(2) Married couples must file joint return.--If the
taxpayer is married at the close of the taxable year, the
credit shall be allowed under subsection (a) only if the
taxpayer and taxpayer's spouse file a joint return for the
taxable year.
``(3) Marital status.--Marital status shall be determined
in accordance with section 7703.
``(e) Election to Have Credit Not Apply.--A taxpayer may elect to
have this section not apply for any taxable year.
``(f) Regulations.--The Secretary shall prescribe such regulations
as may be necessary to ensure that residential gun safes qualifying for
the credit meet design and performance standards sufficient to ensure
the provisions of this section are carried out.
``(g) Statutory Construction; Evidence; Use of Information.--
``(1) Statutory construction.--Nothing in this section
shall be construed--
``(A) as creating a cause of action against any
firearms dealer or any other person for any civil
liability, or
``(B) as establishing any standard of care.
``(2) Evidence.--Notwithstanding any other provision of
law, evidence regarding the use or nonuse by a taxpayer of the
tax credit under this section shall not be admissible as
evidence in any proceeding of any court, agency, board, or
other entity for the purposes of establishing liability based
on a civil action brought on any theory for harm caused by a
product or by negligence, or for purposes of drawing an
inference that the taxpayer owns a firearm.
``(3) Use of information.--No database identifying gun
owners may be created using information from tax returns on
which the credit under this section is claimed.''.
(b) Conforming Amendment.--Section 6501(m) of the Internal Revenue
Code of 1986 is amended by inserting ``25C(e),'' before ``30(d)(4),''.
(c) Clerical Amendment.--The table of sections for subpart A of
part IV of subchapter A of chapter I of the Internal Revenue Code of
1986 is amended by inserting after the item relating to section 25B the
following new item:
``Sec. 25C. Purchase of residential gun safes.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2004.
<all>
Introduced in Senate
Sponsor introductory remarks on measure. (CR S9518)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9518-9519)
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