Bill > HB248

This bill, known as the "Firearm Safe Handling and Secure Storage Tax Credit Act," allows individual taxpayers in Georgia to claim a tax credit for certain expenses related to firearm safety. Eligible expenses include the purchase of a firearm secure storage device, which is defined as a device designed to securely store or disable a firearm and requires a key, combination, biometric identifier, or similar means to unlock, such as gun safes, trigger locks, chamber locks, and cable locks. It also covers the cost of a firearm safe handling instructional course, which must be an in-person training of at least two hours covering safe handling, use, and storage of firearms. The credit is for the amount of these eligible expenses or $300, whichever is less, with an aggregate annual cap of $10 million for all taxpayers. Taxpayers must apply for preapproval of the credit from the department on a first-come, first-served basis, and the department will preapprove credits of $300 per application until the annual cap is reached. Taxpayers must maintain receipts for three years and the credit cannot exceed the taxpayer's income tax liability, with no carryforward or carryback provisions. The bill also prohibits the creation of lists of individuals who apply for or receive the credit, except for administrative purposes, and will be automatically repealed on December 31, 2031, becoming effective for taxable years beginning on or after January 1, 2027.

Budget and Finance

https://www.legis.ga.gov/legislation/69853