Bill
LC 2016
Creates a state income tax credit for purchasing firearm suppressors, reducing taxes for eligible individual filers who buy qualifying suppressors.
Status and timeline
- Introduced: November 27, 2024
- Current status: LC Draft Delivered to Requester
- Legislative actions (selected):
- 2024-11-27: Draft On Hold; Drafter Assigned
- 2024-11-27 to 2025-03-20: Series of LC drafting steps (Draft in Edit/Legal Review/Final Drafter Review/Input-Proofing)
- 2025-03-19–03-20: Draft in Assembly; Draft Ready for Delivery; Draft Delivered to Requester
Overview and purpose
- Purpose: To authorize an income tax credit against the state individual income tax for the purchase of firearm suppressors.
- Context: The bill sits within the subjects of Guns and Weapons, Revenue/State Taxation (Generally), and Individual Income Tax. The aim is to provide a tax incentive related to acquiring firearm suppressors.
Key provisions (as currently described in available information)
- Tax credit: The bill would create a credit against the state individual income tax for the purchase of firearm suppressors.
- Details to be defined in the bill: The specific credit amount, eligibility criteria, caps or limits, carryover provisions (if any), and any awarded duration are not provided in the available summary and would be specified in the enacted text.
- Administration: The bill would establish how the credit is claimed on a taxpayer’s state income tax return and what documentation is required to verify qualifying purchases.
- Scope of eligible taxpayers: Likely limited to individuals who file the state income tax and meet any residency or other eligibility requirements specified in the bill.
Who is affected
- Primary beneficiaries: State individual income taxpayers who purchase qualifying firearm suppressors.
- Potential indirect effects: Could affect state revenue (positive or negative depending on credit size and usage); administrative costs for the tax agency to implement and verify the credit.
Procedural and timeline considerations
- The drafting process is underway, with the draft moving through legal, editorial, and input/proofing stages in March 2025.
- As a draft delivered to the requester, the bill may undergo further amendments before any formal introduction or legislative action in the session.
Notes and caveats
- Specific credit amount, eligibility rules, documentation requirements, and any sunset or renewal provisions are not provided in the available information. The final bill text will determine these substantive details.
- The policy and fiscal impact depend on the defined parameters (credit size, caps, and eligibility) and the number of qualifying taxpayers.
This summary reflects the information available for LC 2016 as of March 2025.
Compiled from official sources — confirm details with the bill’s official record.
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