H.R. 7821, titled the “Safer American Family Enterprise Retail Act of 2024” or the “SAFE Retail Act of 2024,” proposes an amendment to the Internal Revenue Code to establish a tax credit for small retail businesses. The credit would cover 50% of eligible expenditures related...
Simple Explanation
H.R. 7821 is a proposed law that would give small shops some money back on their taxes if they spend money to make their stores safer from thieves. This means if a small store buys things like cameras or alarms to stop people from stealing, they can get back some of the money they spent when they pay their taxes, but only a certain amount and until the year 2029.