MT SB531

Creates a refundable individual income tax credit equal to the purchase price of a firearm safe, up to a maximum of $300 per taxpayer per tax year

Qualifying safes must meet specific security standards including a locking system with at least 10,000 possible combinations, minimum three 1/2-inch steel locking bolts, and 12-gauge steel exterior walls

Safes must be certified by a nationally recognized testing laboratory as meeting Underwriters Laboratories residential security container rating standards

Stated legislative purpose is to encourage firearm safe purchases to promote community and family safety

Applies to tax years beginning on or after January 1, 2026, and adds the credit to the list of tax credits subject to periodic review by the revenue interim committee