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Committee hears Senate Bill 74 to create refundable tax credit for lockable gun and ammunition storage
Summary
Senate Bill 74 would create a refundable income tax credit of 25% (capped at $250 per taxpayer per year) for purchases of lockable gun and ammunition storage devices for tax years 2025–2027; proponents described the measure as bipartisan and aimed at encouraging secure storage, while lawmakers flagged the fiscal-note estimate.
Senate Bill 74 would establish a refundable state income tax credit equal to 25% of a resident individual's expenditures to purchase lockable gun and ammunition storage, limited to $250 per taxpayer per year for tax years 2025 through 2027.
The bill was introduced to the committee by staff member Amelia, who summarized the measure and its effective date. "Senate bill number 74 provides for a refundable income tax credit for expenditures for lockable gun and ammunition storage," Amelia said. The chair opened a public hearing and recognized Senator Mike Peterson to speak in support.
Why it mat…
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