This bill establishes an individual income tax credit for the purchase of firearm safety devices, which includes devices designed to prevent a firearm from being operated without deactivation or a qualified gun safe. The tax credit is equal to the sales price of the firearm safety device purchased during the tax year, with a maximum limit of $500. The bill specifies that any credit exceeding the taxpayer's tax liability is non-refundable but can be applied to the following year's tax liability.

The legislation applies to firearm safety devices purchased on or after the effective date of the bill and includes a retroactive applicability provision, making it effective for tax years beginning on or after January 1, 2025. This aims to encourage the purchase of safety devices to promote responsible firearm ownership.