Senate Bill 503 establishes a Safe Firearm Disposal Incentive Grant Program, administered by the Department of Justice, to provide financial support to counties and law enforcement agencies that implement safe firearm disposal initiatives. The bill allocates $200,000 annually for grants and creates a new position to oversee the program. Eligible applicants must propose a plan that includes advertising the program, utilizing law enforcement personnel, and ensuring proper handling and destruction of firearms. The bill also outlines specific requirements for grant recipients, including reporting on the firearms received and destroyed, and mandates that the grants cannot replace existing funding for similar programs.

Additionally, the bill includes provisions to protect individuals who submit firearms to the program from prosecution for certain violations, provided they are on the designated property and do not commit other crimes. The Department of Justice is required to report to the legislature by July 1, 2028, detailing the program's impact, including the number of grants awarded and firearms disposed of. The bill also increases funding for grant administration by $85,000 for the fiscal years 2025-26 and 2026-27 to support the new grant specialist and policy program analyst positions.