If enacted, this bill would amend current Arizona statutes regarding transaction privilege tax (TPT) and use tax by exempting the gross proceeds of sales or gross income derived from sales of safe firearm storage devices. Specifically, it would insert new language defining "safe firearm storage devices" and outline the criteria for such devices, including that they must be designed to deny unauthorized access to firearms and secured by specific locking mechanisms. Additionally, the bill would clarify that devices incorporated into the design of firearms or those subject to mandatory recalls are excluded from this definition.

The bill would also establish that the TPT and use tax exemption applies to taxable periods beginning on or after the first day of the month following the general effective date of the act. This change aims to promote the sale of safe firearm storage devices in Arizona while providing a clear legal framework for their classification and taxation.

Statutes affected:
Introduced Version: 42-5061, 42-5159, 42-5156, 23-501, 36-1901, 28-5201, 42-5074, 42-6017, 88-525, 95-627, 99-661, 111-296, 28-5739, 28-8344, 42-5001, 42-5075, 42-5009, 28-2154, 28-2154.01, 42-5073, 3-311, 46-191, 36-551, 41-3201, 41-1514.02, 1-215, 49-426, 49-480, 41-1516, 44-1771, 42-5014, 42-5063, 45-604, 28-1171, 104-104, 41-1519, 44-1302, 42-5064, 42-5029, 42-5032.01
House Engrossed Version: 42-5061, 42-5159, 42-5156, 23-501, 36-1901, 28-5201, 42-5074, 42-6017, 88-525, 95-627, 99-661, 111-296, 28-5739, 28-8344, 42-5001, 42-5075, 42-5009, 28-2154, 28-2154.01, 42-5073, 3-311, 46-191, 36-551, 41-3201, 41-1514.02, 1-215, 49-426, 49-480, 41-1516, 44-1771, 42-5014, 42-5063, 45-604, 28-1171, 104-104, 41-1519, 44-1302, 42-5064, 42-5029, 42-5032.01