In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.
Gun Safety Incentives Act of 2002 (Introduced)
Josey1
Member Posts: 9,598 ✭✭
Rep. Langevin (D-RI) has introduced Bill H.R.4512, which proposes to give gun manufacturers tax credits if they manufacture their firearms with chamber load indicators and chamber blocking devices.
Gun Safety Incentives Act of 2002 (Introduced in the House)
HR 4512 IH
107th CONGRESS
2d Session
H. R. 4512
To amend the Internal Revenue Code of 1986 to encourage the use of safety devices in firearms.
IN THE HOUSE OF REPRESENTATIVES
APRIL 18, 2002
Mr. LANGEVIN introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to encourage the use of safety devices in 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 `Gun Safety Incentives Act of 2002'.
SEC. 2. FIREARM SAFETY DEVICES CREDIT.
(a) IN GENERAL- Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to business-related credits) is amended by adding at the end the following new section:
`SEC. 45G. FIREARM SAFETY DEVICES CREDIT.
`(a) GENERAL RULE- For purposes of section 38, in the case of the manufacturer of firearms, the firearm safety devices credit determined under this section for the taxable year is an amount equal to 50 percent of the sum of--
`(1) the firearm chamber load indicator expenses paid or incurred by the taxpayer for the taxable year, and
`(2) the qualified chamber blocking device expenses paid or incurred by the taxpayer for the taxable year.
`(b) FIREARM CHAMBER LOAD INDICATOR EXPENSES- For purposes of this section--
`(1) IN GENERAL- The term `firearm chamber load indicator expenses' means the aggregate amount of the portion of the costs of a firearm which is attributable to the incorporation of a chamber load indicator device in such firearm.
`(2) CHAMBER LOAD INDICATOR DEVICE- The term `chamber load indicator device' means a plainly visible device in a contrasting color that clearly indicates whether the firearm is loaded.
`(c) QUALIFIED CHAMBER BLOCKING DEVICE EXPENSES- For purposes of this section--
`(1) IN GENERAL- The term `qualified chamber blocking device expenses' means the aggregate amount of the costs of manufacturing or acquiring a qualified chamber blocking device.
`(2) QUALIFIED CHAMBER BLOCKING DEVICE- The term `qualified chamber blocking device' means a device which is inserted through the breach and into the barrel of a firearm and, when in position, extends beyond the end of the barrel of such firearm.
`(d) DENIAL OF DOUBLE BENEFIT- No deduction or other credit shall be allowed under this chapter for any amount taken into account in determining the credit under this section.
`(e) ELECTION NOT TO CLAIM CREDIT- This section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year.'.
(b) CREDIT TO BE PART OF GENERAL BUSINESS CREDIT- Subsection (b) of section 38 of such Code (relating to general business credit) is amended by striking `plus' at the end of paragraph (14), by striking the period at the end of paragraph (15) and inserting `, plus', and by adding at the end the following new paragraph:
`(16) the firearm safety devices credit determined under section 45G(a).'.
(c) CONFORMING AMENDMENT- The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 45F the following new item:
`Sec. 45G. Firearm safety devices credit.'.
(d) EFFECTIVE DATE- The amendments made by this section shall apply to taxable years beginning after December 31, 2003. http://thomas.loc.gov/cgi-bin/query/z?c107:H.R.4512:
Contact your U.S. Reps! http://capwiz.com/gunowners/dbq/officials
"If cowardly and dishonorable men sometimes shoot unarmed men with army pistols or guns, the evil must be prevented by the penitentiary and gallows, and not by a general deprivation of a constitutional privilege." - Arkansas Supreme Court, 1878
Gun Safety Incentives Act of 2002 (Introduced in the House)
HR 4512 IH
107th CONGRESS
2d Session
H. R. 4512
To amend the Internal Revenue Code of 1986 to encourage the use of safety devices in firearms.
IN THE HOUSE OF REPRESENTATIVES
APRIL 18, 2002
Mr. LANGEVIN introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to encourage the use of safety devices in 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 `Gun Safety Incentives Act of 2002'.
SEC. 2. FIREARM SAFETY DEVICES CREDIT.
(a) IN GENERAL- Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to business-related credits) is amended by adding at the end the following new section:
`SEC. 45G. FIREARM SAFETY DEVICES CREDIT.
`(a) GENERAL RULE- For purposes of section 38, in the case of the manufacturer of firearms, the firearm safety devices credit determined under this section for the taxable year is an amount equal to 50 percent of the sum of--
`(1) the firearm chamber load indicator expenses paid or incurred by the taxpayer for the taxable year, and
`(2) the qualified chamber blocking device expenses paid or incurred by the taxpayer for the taxable year.
`(b) FIREARM CHAMBER LOAD INDICATOR EXPENSES- For purposes of this section--
`(1) IN GENERAL- The term `firearm chamber load indicator expenses' means the aggregate amount of the portion of the costs of a firearm which is attributable to the incorporation of a chamber load indicator device in such firearm.
`(2) CHAMBER LOAD INDICATOR DEVICE- The term `chamber load indicator device' means a plainly visible device in a contrasting color that clearly indicates whether the firearm is loaded.
`(c) QUALIFIED CHAMBER BLOCKING DEVICE EXPENSES- For purposes of this section--
`(1) IN GENERAL- The term `qualified chamber blocking device expenses' means the aggregate amount of the costs of manufacturing or acquiring a qualified chamber blocking device.
`(2) QUALIFIED CHAMBER BLOCKING DEVICE- The term `qualified chamber blocking device' means a device which is inserted through the breach and into the barrel of a firearm and, when in position, extends beyond the end of the barrel of such firearm.
`(d) DENIAL OF DOUBLE BENEFIT- No deduction or other credit shall be allowed under this chapter for any amount taken into account in determining the credit under this section.
`(e) ELECTION NOT TO CLAIM CREDIT- This section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year.'.
(b) CREDIT TO BE PART OF GENERAL BUSINESS CREDIT- Subsection (b) of section 38 of such Code (relating to general business credit) is amended by striking `plus' at the end of paragraph (14), by striking the period at the end of paragraph (15) and inserting `, plus', and by adding at the end the following new paragraph:
`(16) the firearm safety devices credit determined under section 45G(a).'.
(c) CONFORMING AMENDMENT- The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 45F the following new item:
`Sec. 45G. Firearm safety devices credit.'.
(d) EFFECTIVE DATE- The amendments made by this section shall apply to taxable years beginning after December 31, 2003. http://thomas.loc.gov/cgi-bin/query/z?c107:H.R.4512:
Contact your U.S. Reps! http://capwiz.com/gunowners/dbq/officials
"If cowardly and dishonorable men sometimes shoot unarmed men with army pistols or guns, the evil must be prevented by the penitentiary and gallows, and not by a general deprivation of a constitutional privilege." - Arkansas Supreme Court, 1878