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Committee advances tax credit for lockable gun and ammunition storage after amendments
Summary
The committee advanced Senate Bill 74, creating a tax credit for lockable gun and ammunition storage purchases for tax years 2025'2027. Members amended the bill to clarify eligible storage and removed the bill's refundability, replacing it with a carry-forward treatment.
Amelia, a committee bill presenter, summarized Senate Bill 74 as a refundable income tax credit for expenditures on lockable gun and ammunition storage for tax years 2025 through 2027. Amelia said the credit would equal 25% of eligible expenditures and be capped at $250 per taxpayer per year.
Senator Peterson offered and moved an amendment to clarify eligible storage so that storage not primarily designed for guns and ammunition (for example, a general-purpose storm shelter or a…
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