Senate committee advances tax credit for lockable gun storage after amendments

A Senate committee voted to advance a bill that would create a state income tax credit for expenditures on lockable gun and ammunition storage, approving amendments that tightened the credit’s scope and removed refundability.

Senate Bill 74 originally proposed a refundable credit equal to 25% of eligible expenditures for lockable gun and ammunition storage—capped at $250 per year—for tax years 2025 through 2027. Amelia, presenting the bill to the committee, said the measure would provide “an amount equal to 25% of the expenditures made by the individual during the year to purchase lockable gun and ammunition storage,” limited to $250 annually.

Senator Peterson offered a clarifying amendment to ensure the credit applies only to storage whose primary design is for gun and ammunition storage; Peterson said the amendment prevents unrelated structures (for example, general-purpose storm shelters) or vehicles from qualifying simply because they can store weapons. The amendment was moved by Senator Peterson, seconded by Senator Peck and carried unanimously on voice vote.

Senator Tyson then moved a conceptual amendment to remove the credit’s refundability and replace it with a carry-forward option, citing concerns about the growth of refundable credits. That motion was seconded by Senator Peck and carried on a voice vote after discussion; Senator Peterson said he understood the fiscal concerns and indicated he would accept the committee’s will.

After the amendments, Senator Peterson moved the committee to pass Senate Bill 74 as amended; the motion was seconded by Senator Owens and carried on a voice vote. Committee discussion referenced revisions to the fiscal note: at hearing time the fiscal estimate had been revised downward from approximately $17 million to about $1.7 million in FY 2026 and modestly higher in subsequent years.

The committee’s action will advance the amended bill for further consideration by the Senate.