I
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 Representa-
tives 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 sub-
chapter 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 ex-
penses paid or incurred by the taxpayer for the tax-
able year, and
‘‘(2) the qualified chamber blocking device ex-
penses paid or incurred by the taxpayer for the tax-
able year.
‘‘(b) FIREARM CHAMBER LOAD INDICATOR EX-
PENSES.—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 cham-
ber 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 EX-
PENSES.—For purposes of this section—
‘‘(1) IN GENERAL.—The term ‘qualified cham-
ber blocking device expenses’ means the aggregate
amount of the costs of manufacturing or acquiring
a qualified chamber blocking device.
‘‘(2) QUALIFIED
CHAMBER
BLOCKING
DE-
VICE.—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 posi-
tion, 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 sec-
tion 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 (re-
lating 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 deter-
mined under section 45G(a).’’.
(c) CONFORMING AMENDMENT.—The table of sec-
tions 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.
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