Bill Summary – FastDemocracy

LEGISLATIVE GENERAL COUNSEL                                            H.B. 326
       6 Approved for Filing: G. Harb 6                           5th Sub. (Salmon)
         6 02-09-24 11:25 AM 6
                   Representative Matt MacPherson proposes the following substitute bill:
                     FIREARM SAFETY DEVICE TAX INCENTIVES
                                          AMENDMENTS
                                      2024 GENERAL SESSION
                                          STATE OF UTAH
                              Chief Sponsor: Matt MacPherson
                                Senate Sponsor: ____________
 7
 LONG TITLE
 General Description:
        This bill establishes an income tax credit for the purchase of a firearm safety device.
 Highlighted Provisions:
        This bill:
        < defines terms;
        < enacts a nonrefundable individual income tax credit for the purchase of a firearm
 safety device;
        < prohibits taxpayers from claiming the tax credit more than once and limits the tax
 credit to one per household; and
        < provides for a sunset review of the tax credit.
 Money Appropriated in this Bill:
        None                                                                                      5th Sub. H.B. 326
 Other Special Clauses:
        This bill provides retrospective operation.
 Utah Code Sections Affected:
 AMENDS:
        63I-1-259, as last amended by Laws of Utah 2023, Chapter 52
     *HB0326S05*
       5th Sub. (Salmon) H.B. 326                                                02-09-24 11:25 AM
 ENACTS:
         59-10-1048, Utah Code Annotated 1953
28
 Be it enacted by the Legislature of the state of Utah:
         Section 1. Section 59-10-1048 is enacted to read:
         59-10-1048. Nonrefundable tax credit for purchase of firearm safety device.
         (1) As used in this section:
         (a) "Eligible claimant" means an individual who purchases a firearm safety device on
 or after January 1, 2024, and before January 1, 2027.
         (b) "Firearm" means the same as that term is defined in Section 76-10-501.
         (c) (i) "Firearm safety device" means equipment designed to prevent the unauthorized
 access to, or operation or discharge of, a firearm.
         (ii) "Firearm safety device" includes:
         (A) a device that, when installed on a firearm, is designed to prevent the firearm from
 being operated without first deactivating the device; or
         (B) a firearm safe, gun case, lock box, or other device designed for the purpose of
 storing a firearm and equipped with a locking device that, when locked, prevents unauthorized
 access to the firearm.
         (2) An eligible claimant may claim a nonrefundable tax credit under this section in an
 amount equal to the lesser of:
         (a) the purchase price of the firearm safety device; or
         (b) $50.
         (3) An eligible claimant shall claim the tax credit described in Subsection (2) for the
 taxable year in which the firearm safety device is purchased.
         (4) An eligible claimant may not:
         (a) claim more than one tax credit under this section;
         (b) carry forward or carry back the amount of the tax credit that exceeds the eligible
 claimant's tax liability; or
         (c) claim a tax credit under this section if the eligible claimant is married and the
 eligible claimant's spouse claimed a tax credit under this section on a return filed under this
 chapter.
                                                      -2-
       02-09-24 11:25 AM                                             5th Sub. (Salmon) H.B. 326
        Section 2. Section 63I-1-259 is amended to read:
        63I-1-259. Repeal dates: Title 59.
        (1) Section 59-1-213.1 is repealed May 9, 2024.
        (2) Section 59-1-213.2 is repealed May 9, 2024.
        (3) Subsection 59-1-403(4)(aa), which authorizes the State Tax Commission to inform
 the Department of Workforce Services whether an individual claimed a federal earned income
 tax credit, is repealed July 1, 2029.
        (4) Subsection 59-1-405(1)(g) is repealed May 9, 2024.
        (5) Subsection 59-1-405(2)(b) is repealed May 9, 2024.
        (6) Section 59-7-618.1 is repealed July 1, 2029.
        (7) Section 59-9-102.5 is repealed December 31, 2030.
        (8) Section 59-10-1033.1 is repealed July 1, 2029.
        (9) Section 59-10-1048 is repealed July 1, 2027.
        Section 3. Effective date.
        This bill takes effect on May 1, 2024.
        Section 4. Retrospective operation.
        Section 59-10-1048 has retrospective operation for a taxable year beginning on or after
 January 1, 2024.
                                                     -3-
Statutes affected: 
Introduced: 63I-1-259, 59-1-213.1, 59-1-213.2, 59-7-618.1, 59-9-102.5, 59-10-1033.1, 59-10-1048
H.B. 326 1st Substitute (Not Adopted) Text: 63I-1-259, 59-1-213.1, 59-1-213.2, 59-7-618.1, 59-9-102.5, 59-10-1033.1, 59-10-1048
H.B. 326 2nd Substitute (Not Adopted) Text: 63I-1-259, 59-1-213.1, 59-1-213.2, 59-7-618.1, 59-9-102.5, 59-10-1033.1, 59-10-1048
H.B. 326 3rd Substitute (Not Adopted) Text: 63I-1-259, 59-1-213.1, 59-1-213.2, 59-7-618.1, 59-9-102.5, 59-10-1033.1, 59-10-1048
H.B. 326 4th Substitute : 63I-1-259, 59-1-213.1, 59-1-213.2, 59-7-618.1, 59-9-102.5, 59-10-1033.1, 59-10-1048
H.B. 326 5th Substitute (Not Adopted) Text: 63I-1-259, 59-1-213.1, 59-1-213.2, 59-7-618.1, 59-9-102.5, 59-10-1033.1, 59-10-1048
H.B. 326 6th Substitute (Not Adopted) Text: 63I-1-259, 59-1-213.1, 59-1-213.2, 59-7-618.1, 59-9-102.5, 59-10-1033.1, 59-10-1048