WEST VIRGINIA LEGISLATURE

2022 REGULAR SESSION

Introduced

Senate Bill 215

By Senator Baldwin

[Introduced January 12, 2022; referred
to the Committee on Finance]

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-33, relating to creating a tax credit for individuals who purchase firearm safety equipment.

Be it enacted by the Legislature of West Virginia:

ARTICLE 21.  PERSONAL INCOME TAX.

§11-21-33.  Firearm safety equipment expenses tax credit; definition.

(a) Firearms safety equipment defined. - For the purposes of this section, “firearms safety equipment” means a safe or other storage device, trigger lock, chamber lock, cable lock, or other related equipment meant to safeguard from the unauthorized use or accidental discharge of a firearm.

(b) Credit allowed - For those tax years beginning on or after January 1, 2022, there is allowed a nonrefundable credit for the purchase of firearm safety equipment by a qualified individual.

(c) Amount of credit. - A qualified individual may claim a tax credit not to exceed $250.

(d) Unused credit - If any credit remains after application of this section that amount is forfeited.  A carryback to a prior taxable year is not allowed for any unused portion of any annual credit allowance.

 

NOTE: The purpose of this bill is to create a tax credit for individuals who purchase firearm safety equipment.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.