HB2: HB2 Safe Storage Tax Credit Act; enact

Georgia does not currently offer a tax break for buying devices that lock or secure firearms. House Bill 2, called the Safe Storage Tax Credit Act, would add a new section to Georgia's income tax code allowing individual taxpayers to claim a credit for money spent on firearm safe storage devices, such as gun safes, trigger locks, chamber locks, and cable locks, bought from a federally licensed dealer. The credit would equal a taxpayer's actual eligible expenses or $300, whichever is less, and no taxpayer could claim more than $300 total in their lifetime under this provision. Taxpayers would have to apply to the Department of Revenue for preapproval before claiming the credit, and credits would be granted first come, first served until a statewide $5 million annual cap is reached. The credit cannot exceed a taxpayer's tax liability and cannot be carried forward to future years. The provision would take effect January 1, 2026, for taxable years beginning on or after that date, and would automatically repeal on December 31, 2030.

• Creates a Georgia income tax credit for individual taxpayers who buy firearm safe storage devices, such as gun safes, trigger locks, chamber locks, or cable locks, from a federally licensed dealer.
• Sets the credit at the taxpayer's actual eligible expenses or $300, whichever is less, and caps total lifetime credits per taxpayer at $300.
• Limits the total amount of credits issued statewide to $5 million per year and requires the Department of Revenue to preapprove applications on a first come, first served basis.
• Requires taxpayers to keep purchase receipts for three years and make them available to the state revenue commissioner upon request.
• Bars the credit from exceeding a taxpayer's tax bill for the year and prohibits carrying unused credit forward or applying it to past years.
• Automatically repeals the entire tax credit program on December 31, 2030.

Individual Georgia taxpayers who purchase gun safes or other locking storage devices for firearms, federally licensed firearm dealers who sell those devices, and the Georgia Department of Revenue, which must build a preapproval application system and enforce the annual funding cap.

Gun owners who buy safes, trigger locks, or similar devices could get up to $300 back on their state taxes, potentially encouraging safer storage of firearms at home. Because the credit requires advance state approval and has a $5 million yearly cap, some applicants could be turned down once the cap is reached.

• Section 2 adds new Code Section 48-7-29.11A defining 'eligible safe storage expenses,' 'firearm,' and 'firearm safe storage device' for purposes of the credit.
• Subsection (b) sets the credit amount at the lesser of actual expenses or $300 and caps total statewide credits at $5 million per year.
• Subsection (c) requires the Department of Revenue to create a preapproval process, approve applications within 30 days in order received, and deny and stop accepting applications once the annual cap is reached.
• Subsection (d) requires taxpayers to keep receipts for three years and limits any individual taxpayer to a $300 lifetime total under this credit.
• Subsection (e) prohibits the credit from exceeding the taxpayer's tax liability and bars carrying it forward or applying it retroactively.
• Subsection (g) automatically repeals the entire Code section on December 31, 2030.
• Section 3 sets the effective date as January 1, 2026, applicable to taxable years beginning on or after that date.

1. 2025-01-15House Second Readers (House)
2. 2025-01-14House First Readers (House)
3. 2025-01-13House Hopper (House)

• Michelle Au (D, HD-050)Primary sponsor
• Mary Oliver (D, HD-084)
• Omari Crawford (D, HD-089)
• Yasmin Neal (D, HD-079)
• Anne Westbrook (D, HD-163)
• Gabriel Sanchez (D, HD-042)

• gun safety
• tax credits
• firearm storage
• state income tax
• Georgia Department of Revenue