3.0.0 1884 2022-11-01T13:51:04Z 2022-11-01T13:51:04Z Senate S 2019-06-18 116 ssfi00 Finance Committee Senate Standing Referred to 2019-06-18T19:09:05Z SAFETY Act 116 942 HR 2019-01-31 Referred to the House Committee on Ways and Means. Related bill CRS 2019-06-18 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2019-06-18 Introduced in Senate IntroReferral 10000 9 Library of Congress M001169 Sen. Murphy, Christopher [D-CT] Christopher Murphy D CT S. N B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2019-06-18 True 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 Taxation 00 2019-06-18 Introduced in Senate 2019-07-16T19:55:06Z Start Advancing Firearms Enhancements and Technology Act of 2019 or the SAFETY Act

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.

]]> SAFETY Act Display Title SAFETY Act Short Title(s) as Introduced SAFETY Act Introduced in Senate IS Short Title(s) as Introduced Start Advancing Firearms Enhancements and Technology Act of 2019 Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide an enhanced research credit for the development of smart gun technologies. Introduced in Senate IS Introduced in Senate 2019-06-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s1884is/xml/BILLS-116s1884is.xml 2019-06-18 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.