Tax credit for safe gun storage expenses.

Latest bill text (Comm Sub) [PDF]


Tax credit for safe gun storage expenses. Provides that a taxpayer is entitled to a credit against the taxpayer's state income tax liability in a taxable year equal to the lesser of: (1) 20% multiplied by the safe gun storage expenses incurred by the taxpayer during the taxable year; or (2) $500 in the case of an individual filing a single return (or $250 in the case of a married individual filing a separate return). Defines "safe gun storage expenses" as the purchase price of a qualified firearms storage device. Defines "qualified firearms storage device" as: (1) a safe, lockbox, cabinet, or other container designed to store firearms securely by restricting access to the firearms by a locking device; or (2) a locking device that, when installed on a firearm, is designed to prevent the firearm from being operated without first deactivating the device. Provides that to obtain the credit, the taxpayer must claim the credit in the manner prescribed by the department of state revenue (department). Requires the taxpayer to submit to the department proof of the taxpayer's safe gun storage expenses and all information that the department determines is necessary for the calculation of the credit. Prohibits the taxpayer from claiming any carryover, carryback, or refund of any unused credit.


Authored by Representative HallCoauthored by Representative Gore

Fiscal Outlook

Title Description Date View
Fiscal NoteFiscal Note #1: Introduced2024-01-10 Click To View


Date Chamber Action
2024-01-16HouseRepresentatives Pierce K and Criswell C added as coauthors
2024-01-10HouseFirst reading: referred to Committee on Ways and Means
2024-01-10HouseAuthored by Representative Hall
2024-01-10HouseCoauthored by Representative Gore