General Assembly		Proposed Bill No. 5295
January Session, 2015		LCO No. 395
		*00395*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. SAMPSON, 80th Dist.

AN ACT ESTABLISHING A TAX CREDIT UNDER THE PERSONAL INCOME TAX FOR THE PURCHASE OF GUN SAFES.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to provide that (1) any taxpayer who is subject to the personal income tax imposed under chapter 229 of the general statutes for any taxable year shall be allowed a credit against the tax otherwise due under said chapter in an amount equal to the price paid by such taxpayer for a new safe that (A) is specifically manufactured to store firearms, (B) is constructed of steel or a material of equal or greater strength, (C) has a combination or key lock listed by Underwriters Laboratories, and (D) is for the personal, noncommercial use of the taxpayer, provided such credit shall not exceed one hundred fifty dollars; and (2) if the amount of such credit exceeds the taxpayer's liability for the tax imposed under chapter 229 of the general statutes, the excess shall expire and shall not be refundable.

Statement of Purpose:

To establish a nonrefundable personal income tax credit of up to one hundred fifty dollars for the purchase of gun safes for personal use.