This bill amends R.S. 47:297.24(A)(1) to update the definitions and eligibility criteria for the individual income tax credit related to the purchase of firearm safety devices in Louisiana. The term "eligible transaction" is redefined to specify that it refers to a Louisiana sales transaction where a taxpayer buys firearm safety devices from a dealer required to collect sales and use tax on the sale of these devices. Notably, the previous requirement for the dealer to be federally licensed under 18 U.S.C. 923 has been removed, and it is clarified that the purchase of a firearm itself does not qualify for the tax credit.

The provisions of this Act will take effect for taxable periods beginning on or after January 1, 2025. The Act will become effective upon the governor's signature or, if not signed, after the designated time for bills to become law without signature, as outlined in the Louisiana Constitution. If the governor vetoes the bill but the legislature approves it later, the Act will take effect the day after that approval.

Statutes affected:
HB211 Original: 47:24(A)(1)
HB211 Engrossed: 47:24(A)(1)
HB211 Enrolled: 47:24(A)(1)
HB211 Act : 47:24(A)(1)