House Bill No. introduced by a group of legislators aims to establish an income tax credit specifically designed to offset the cost of a firearm suppressor tax stamp, which is a federally mandated purchase. The bill outlines that taxpayers can claim a credit for the cost of one firearm suppressor tax stamp, with the maximum credit amount set at $50 or the actual cost of the stamp, whichever is lesser. Additionally, if a taxpayer's tax liability is less than the credit claimed, the credit must be refunded. The purpose of this tax credit is to promote safety by helping to mitigate long-term hearing damage for shooters.

The bill includes several new sections that provide a definition of the firearm suppressor tax stamp, codification instructions, and stipulates the effective date of the act as January 1, 2026. It also specifies that the act will apply to income tax years beginning on or after this date and will terminate on December 31, 2027. This legislation reflects an effort to encourage the use of safety devices among firearm users while addressing health concerns associated with shooting.