A new proposal in Montana aims to encourage firearm safety by providing tax credits for the purchase of gun safes, with Senate Bill 531 receiving its first hearing this week. The bill, co-sponsored by 14 Democrats, proposes a refundable income tax credit equal to the purchase price of a qualified safe, up to $300 per taxpayer annually, to combat the high incidence of gun-related deaths due to unsecured firearms.
Lead sponsor State Sen. Andrea Olsen (D-Missoula) highlights that 75% of gun deaths stem from individuals accessing someone else’s firearm, emphasizing the potential life-saving impact of increased safe storage. However, the proposal faces opposition from critics, including the Montana Society of CPAs, who argue that incorporating such incentives into the tax code could complicate its administration. With the bill projected to cost the state significant revenue over the next few years, its future remains uncertain.
Read full story at nbcmontana.com
