This bill establishes a sales tax holiday specifically for the purchase of gun safes and gun safety devices in Arkansas. The holiday will be in effect from July 1, 2023, to June 30, 2024, during which the gross receipts from the sale of these items will be exempt from the gross receipts tax and the compensating use tax. The bill defines a "gun safe" as a locking container designed for secure firearm storage and a "gun safety device" as an integral device that allows a firearm to operate only for designated users.

Additionally, the bill mandates that the Department of Finance and Administration create rules to implement and administer this sales tax holiday. The department is required to file these rules with the Secretary of State and the Legislative Council for approval, ensuring that the necessary regulations are in place by the start of the holiday period.