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S 1884 116th Congress Senate 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

SAFETY Act

Introduced: June 18, 2019 Introduced by: Murphy, Christopher Democratic · Connecticut See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 18, 2019
Read twice and referred to the Committee on Finance.
Jun 18, 2019
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

What's happening now June 18, 2019

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1