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IN HB1109
Bill
Status
1/7/2019
Primary Sponsor
Jim Lucas
Click for details
AI Summary
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Creates a state income tax credit for firearms safety expenses, including tuition for qualified firearms instruction and purchase of qualified firearms storage devices such as safes, lockboxes, or trigger locks
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Qualified firearms instruction must be taught by an instructor certified by the National Rifle Association
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Maximum credit is $200 for single filers or $400 for married couples filing jointly, equal to actual expenses incurred
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Credit cannot exceed the taxpayer's state income tax liability, with no carryover, carryback, or refund of unused amounts
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Applies to taxable years beginning after December 31, 2019, with an effective date of July 1, 2019
Legislative Description
Income tax credit for firearms safety expenses. Provides a state income tax credit for expenses incurred to receive qualified firearms instruction or to purchase a qualified firearms storage device. Provides that the credit is equal to the amount of the incurred expenses. Provides that the maximum amount allowed as a credit is $200 for individuals filing single returns or $400 for married couples filing joint returns. Provides that a tax credit may not exceed the taxpayer's state income tax liability. Provides that a taxpayer is not entitled to a carryover, carryback, or refund of any unused tax credit.
Last Action
Representative Stutzman added as coauthor
1/17/2019