The 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. It specifies that an "eligible transaction" 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. The bill removes the requirement that the dealer be federally licensed under 18 U.S.C. 923 and clarifies 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 time allowed for bills to become law without signature, as outlined in the Louisiana Constitution. If the governor vetoes the bill but it is later approved by the legislature, it 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)