What's happening
This bill creates a tax credit for New Yorkers who purchase firearm safety items such as safes and locks, up to $500 annually.
Why it matters
Encourages safer firearm storage by reducing the financial barrier. for gun owners to purchase safety equipment like safes and locks, potentially decreasing accidental shootings, theft, and unauthorized access.
Targets consumer behavior through a tax incentive. , making it more attractive for individuals to invest in firearm safety without imposing a mandate or penalty.
Limits the credit to $500 per year per taxpayer. , which helps control costs to the state while still providing significant support for those who make safety purchases.
Could have broader public safety implications. , as increased use of safety devices may contribute to overall reductions in firearm-related incidents, particularly among children and in cases of domestic violence or theft.
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Who cares
Headline styles
Tax Credit for Gun Locks
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
History
- Referred to budget and revenue
- Referred to budget and revenue
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Tax Credit for Gun Safes
In Assembly Committee · Ways And Means · Sponsor Patricia Fahy
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2651
2019-2020 Regular Sessions
IN SENATE
January 28, 2019
Introduced by Sen. JORDAN -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue
AN ACT to amend the tax law, in relation to providing a tax credit for the purchase of items relating to firearm safety
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 606 of the tax law is amended by adding a new subsection (jjj) to read as follows:
(jjj) A taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article for the purchase, other than for resale, of gun safes or vaults, firearm safety locks, trigger locks or other items designed to ensure the safe handling and storage of firearms. The amount of credit shall be equal to twenty-five percent of the cost to the taxpayer of the purchase of such firearm safety items during the taxable year, such credit not to exceed five hundred dollars per year.
§ 2. This act shall take effect immediately and shall apply to taxable years beginning on and after January 1, 2021.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02297-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
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. 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 ideologies concerned with protecting the welfare of children and securing homes.
Legislative history
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.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.