BILL NUMBER: S2094

SPONSOR: JORDAN
 
TITLE OF BILL:

An act to amend the tax law, in relation to providing a tax credit for
the purchase of items relating to firearm safety

 
PURPOSE:

To provide a tax credit to those that purchase gun safety equipment such
as safes and vaults, or safety and trigger locks.

 
SUMMARY OF PROVISIONS:

Section 1 amends tax law by adding a new subsection (ccc) providing a
twenty-five percent tax credit, "not to exceed five hundred dollars per
year, for the purchase of gun safes and vaults, firearm safety locks,
trigger locks, and other such items designed to ensure the safe handling
and storage of firearms.

              

Section 2 is the effective date.

 
JUSTIFICATION:

Gun safes and vaults provide a mechanism to keep guns out of unwanted
hands, both children and buglers. In addition, safety and trigger locks
render them unusable to anyone other than the owner. This legislation
provides an incentive for those that own guns to keep them out of the
reach of unwanted hands, and to prevent accidental firing or use by
anyone who could have stolen such a weapon. This legislation is a prac-
tical way to encourage gun owners to invest in gun safes and locks and
will also help ensure compliance with safe storage requirements provided
for under Chapter 135 of the Laws of 2019. Storing firearms safely helps
prevent them from falling into the wrong hands and protects against gun
accidents resulting from misuse. Nearly one-third of all violent crime
in the United States is committed with guns stolen from the homes of law
abiding Americans.  This legislation should unite people from all ideol-
ogies concerned with protecting the welfare of children and securing
homes.

 
LEGISLATIVE HISTORY:

2019-20: Referred to Budget and Revenue

2017-18: Referred to Investigations and Government Operations

2015-16: Referred to Investigations and Government Operations

2013-14: Referred to Investigations and Government Operations

2011-12: Reported and Committed to Finance

2009-10: Referred to Investigations and Government Operations

 
FISCAL IMPLICATIONS:

Minimal.

 
EFFECTIVE DATE:
Immediately.