Vote Smart's Synopsis:

Vote to pass a bill that establishes a refundable income tax credit for taxable years 2023 through 2027 for individuals who purchase one or more firearm safety devices.

Highlights:

• Establishes firearm safety device tax credit (Sec. 1).

• Specifies that “For taxable years beginning on and after January 1, 2023, but before January 1, 2028, a taxpayer shall be allowed a refundable credit against the tax levied pursuant to §58.1-320 for up to $300 for the cost incurred in the purchase of one or more firearm safety devices in an eligible transaction” (Sec. 1).

Full Bill Text