SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2023 SESSION
HB 2387 Income tax, state; firearm safety device tax credit.
Introduced by: Alfonso H. Lopez | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Firearm safety device tax credit. Establishes a nonrefundable income tax credit for taxable years 2023 through 2027 for individuals who purchase one or more firearm safety devices, as defined in the bill, in an eligible transaction, as defined in the bill. An individual who properly claims this credit shall be allowed a credit in the amount of up to $300 for the cost incurred in such purchase. The aggregate amount of credits allowable under the provisions of the bill shall not exceed $5 million per taxable year.
SUMMARY AS PASSED HOUSE:
Firearm safety device tax credit. Establishes a refundable income tax credit for taxable years 2023 through 2027 for individuals who purchase one or more firearm safety devices, as defined in the bill, in an eligible transaction, as defined in the bill. An individual who properly claims this credit shall be allowed a credit in the amount of up to $300 for the cost incurred in such purchase. The aggregate amount of credits allowable under the provisions of the bill shall not exceed $5 million per taxable year.
SUMMARY AS INTRODUCED:
Firearm safety device tax credit. Establishes a refundable income tax credit for taxable years 2023 through 2027 for individuals who purchase one or more firearm safety devices, as defined in the bill, in an eligible transaction, as defined in the bill. An individual who properly claims this credit shall be allowed a credit in the amount of up to $300 for the cost incurred in such purchase. The aggregate amount of credits allowable under the provisions of the bill shall not exceed $20 million per taxable year.