Austin and Perry Safe Boating Incentive Act

Austin and Perry Safe Boating Incentive Act This bill amends the Internal Revenue Code to allow individual taxpayers a new tax credit for 50% of the amount paid or accrued, up to $200 in a taxable year ($500 for all taxable years), for a qualified emergency position-indicating radio beacon and a qualified personal locator beacon. A "qualified emergency position-indicating radio beacon" is a device installed on an eligible boat that: (1) transmits distress signals at a frequency between 406.0 and 406.1 MHz, (2) is manufactured by a company approved to manufacture beacons by the International Cospas-Sarsat Programme, and (3) is registered with the United States National Oceanic and Atmospheric Administration. A "qualified personal locator beacon" is a similarly-defined device designed to be carried by an individual and acquired for use in boating activities. An "eligible boat" is any recreational vessel, any small passenger vessel carrying not more than 250 passengers, and any uninspected passenger vessel as those terms are defined in provisions of the U.S. Code.