HB1597: A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Page last updated: Sunday, April 20, 2025 at 7:11 PM (America/Indianapolis).

General Information

• Stage: Introduced House Bill (H)
• Current Chamber: house
• Origin Chamber: house
• Description: Tax credit for safe gun storage expenses.

Legislators

Actions (4 total)

• Jan 27, 2025, 11:00 AM: Representative Lucas added as coauthor
• Jan 21, 2025, 11:32 AM: First reading: referred to Committee on Ways and Means
• Jan 21, 2025, 11:32 AM: Authored by Representative Hall
• Jan 21, 2025, 11:32 AM: Coauthored by Representative Gore

Digest

Provides that a taxpayer is entitled to a credit against the taxpayer's state income tax liability in a taxable year equal to the lesser of: (1) 20% multiplied by the safe gun storage expenses incurred by the taxpayer during the taxable year; or (2) $200 (or $100 in the case of a married individual filing a separate return). Defines "safe gun storage expenses" as the purchase price of a qualified firearms storage device. Defines "qualified firearms storage device" as: (1) a safe, lockbox, cabinet, or other container designed to store firearms securely by restricting access to the firearms by a locking device; or (2) a locking device that, when installed on a firearm, is designed to prevent the firearm from being operated without first deactivating the device. Provides that to obtain the credit, the taxpayer must claim the credit in the manner prescribed by the department of state revenue (department). Requires the taxpayer to submit to the department proof of the taxpayer's safe gun storage expenses and all information that the department determines is necessary for the calculation of the credit. Provides that the department shall not share any information submitted by the taxpayer with any other state or federal agency. Prohibits the taxpayer from claiming any carryover, carryback, or refund of any unused credit.