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GA HB971
Bill
Status
Engrossed
2/27/2024
Primary Sponsor
Mark Newton
Click for details
AI Summary
- Creates a Georgia income tax credit of up to $300 per individual taxpayer for eligible expenses on firearm secure storage devices (gun safes, trigger locks, chamber locks, cable locks) and in-person firearm safe handling instructional courses of at least two hours
- Caps the total aggregate tax credits allowed under the program at $10 million per year, with preapproval applications processed on a first-come, first-served basis within 30 days
- Limits each individual taxpayer to one lifetime credit of $300, with no carry-forward to future tax years or application to prior years' liability
- Prohibits any person from creating a list or database of individuals who have applied for or received the tax credit
- Takes effect January 1, 2025, applies to taxable years beginning on or after that date, and automatically repeals on December 31, 2030
Legislative Description
Firearm Safe Handling and Secure Storage Tax Credit Act; enact
Last Action
Senate Tabled
3/26/2024
Committee Referrals
Finance2/29/2024
Ways and Means1/23/2024
Full Bill Text
No bill text available