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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 matters: supporters said the credit is intended to encourage secure storage of firearms and ammunition as an alternative to mandates. Senator Mike Peterson described the bill's origin as a conversation with advocates and said he chose a 25% credit because of retail discount practices: "They normally run these 25% off on Black Friday. I'm gonna wait till Black Friday. I thought if 25% would encourage him to buy 1, that's the number." Peterson said he limited the credit to avoid excessive budgetary impact.
Industry testimony: Mariah Day of the National Shooting Sports Foundation (NSSF) testified in support, describing the firearm industry's interest in promoting safe, responsible ownership. "We like to see individuals who are responsible firearm owners, taking responsible action to secure their firearms," Day testified, and she questioned the fiscal note's estimate.
Fiscal note and committee reaction: staff fiscal analysis estimated a first-year cost of about $16.6 million, based on an assumption that many taxpayers would claim the credit. Senator Peterson and other committee members said they believed the estimate was high. "I only saw the fiscal note this morning, but I would agree. I believe the number is rather high," Mariah Day said. A committee member observed that a $250 cap would require roughly 68,000 claims to reach the fiscal-note figure.
Next steps: the hearing was closed after proponents testified; no committee vote was taken at this meeting. The chair said the bill would be worked after turnaround unless something changed.
Ending: With testimony limited to proponents and industry representatives, the committee has not yet scheduled action; supporters urged the panel to consider market data and to revisit the fiscal estimate before moving the bill forward.
