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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
HOUSE BILL 2241 By: Munson
AS INTRODUCED
An Act relating to revenue and taxation; defining
terms; creating income tax credit for firearm safety
devices; prohibiting credit from r educing tax
liability to less than zero; providing five -year
carryover; and providing an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2357.407 of Title 68, unless
there is created a duplication in numbering, reads as follows:
A. As used in this section:
1. "Eligible transaction " means a transaction in which a
taxpayer purchases one or more qualified or qua lifying expenses. An
eligible transaction shall not include the purchase of a firearm;
2. "Qualified expense" means firearm safety devices. Firearm
safety devices include a safe, gun safe, gun case, lock box, or any
other device designed to store a fire arm and that is designed to be
unlocked only by means of a key, a combination, or other similar
means; and
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3. "Taxpayer" means a natural person.
B. For taxable years beginning on or after January 1, 2026,
there shall be allowed as a credit against the ta x imposed pursuant
to Section 2355 of Title 68 of the Oklahoma Statutes in the amount
of fifty percent (50%) of the qualified expense, provided such
credit shall not exceed One Thousand Dollars ($1,000.00).
C. The credit authorized by this section shall n ot be used to
reduce the income tax liability of the taxpayer to less than zer o
(0).
D. To the extent not used, the credit authorized by this
section shall be allowed to carry over, in order, to each of the
five (5) following taxable years.
SECTION 2. This act shall become effective January 1, 2026.
60-1-11083 AO 12/18/24