summary
Introduced
12/18/2023
12/18/2023
In Committee
02/26/2024
02/26/2024
Crossed Over
02/07/2024
02/07/2024
Passed
03/06/2024
03/06/2024
Dead
Signed/Enacted/Adopted
04/05/2024
04/05/2024
Introduced Session
2024 Regular Session
Bill Summary
Firearm safety device tax credit; definition of firearm safety device. Expands the definition of "firearm safety device" as it relates to the firearm safety device tax credit to include any device that, when installed on a firearm, is designed to prevent the firearm from being operated without first deactivating the device. The provisions of the bill are effective for taxable years beginning on and after January 1, 2024.
AI Summary
This bill expands the definition of "firearm safety device" as it relates to the existing firearm safety device tax credit. The expanded definition includes any device that, when installed on a firearm, is designed to prevent the firearm from being operated without first deactivating the device. The bill maintains the existing tax credit of up to $300 for the cost of purchasing one or more firearm safety devices, with a $5 million annual cap on the total credits allowed. The provisions of the bill are effective for taxable years beginning on and after January 1, 2024.
Committee Categories
Budget and Finance, Justice
Sponsors (22)
Nadarius Clark (D)*,
Jackie Glass (D)*,
Alfonso Lopez (D)*,
Adele McClure (D)*,
Bonita Anthony (D),
Alex Askew (D),
Katrina Callsen (D),
Laura Jane Cohen (D),
Kelly Convirs-Fowler (D),
Debra Gardner (D),
J.R. Henson (D),
Patrick Hope (D),
Mike Jones (D),
Amy Laufer (D),
Michelle Lopes-Maldonado (D),
Fernando Martinez (D),
Sam Rasoul (D),
Holly Seibold (D),
Irene Shin (D),
Shelly Simonds (D),
Jeion Ward (D),
Rodney Willett (D),
Last Action
Governor: Acts of Assembly Chapter text (CHAP0522) (on 04/05/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...