H.B. No. 700 - Bill Summary

• Redirects state sales and use tax revenue from firearms and ammunition sales into three newly created dedicated funds instead of the general revenue fund.

• Allocates 50% of firearms and ammunition tax revenue to the firearm violence reparations fund for paying awards to survivors and families of victims of firearm violence.

• Allocates 30% to the firearm violence protection fund for distribution to alcohol, drug addiction, and mental health services boards to fund mental health and firearm violence prevention programming.

• Allocates 20% to the sales tax law enforcement fund administered by the attorney general to award grants to law enforcement agencies for improving community relations.

• Applies to both sales tax (section 5739.02) and use tax (section 5741.02) revenue collected from firearm and ammunition transactions, including related penalties and interest.