# The SAFES Act: A Tax Credit for Gun Safes

This bill creates a tax credit that gives people money back on their taxes when they buy a gun safe. Specifically, if you purchase a gun safe, you can claim a credit equal to 90 percent of what you spent on it. For single filers, the maximum credit is $500 per year, and for married couples filing jointly, it's $1,000 per year. This means if you buy a $500 gun safe, you'd get back $450 in tax credits (90 percent of $500). The credit applies to any device designed to lock up firearms or ammunition—this includes traditional safes, gun cases, lock boxes, or anything secured with a combination lock, key lock, or biometric lock.

There's an important limit built into the credit: you can only claim it once every six years. So if you claimed the full $500 credit this year, you couldn't claim another credit until six years have passed. The credit only applies to brand-new safes that you're the first owner of—used safes don't qualify. The bill takes effect for tax returns filed starting in 2023.

One notable feature is that the government won't ask you any questions about what firearms you own to get this credit. You simply report that you bought a gun safe and claim the tax benefit without having to provide details about your guns. However, there's a twist: after 2029, the credit will only apply to gun safes that the Secretary of Health and Human Services has determined are "highly effective in preventing unauthorized access." The government has five years from when this bill becomes law to study and publish a report on which safes meet that standard.

SAFES Act

Storing All Firearms Effectively and Safely Act or the SAFES Act This bill allows individual taxpayers a refundable tax credit for 90% of the aggregate amount paid for (1) any gun safe, for taxable years beginning before 2030; and (2) any gun safe, for taxable years beginning after 2029, determined to be highly effective in preventing unauthorized access. The bill limits the amount of the credit and denies the credit for any used safes.