Income Tax - Credit for Firearm Safety Devices

HB 250 creates a Maryland income tax credit for individuals who purchase qualifying firearm safety devices, such as gun safes, lock boxes, or active safety devices that prevent operation without deactivation. The credit equals the lesser of 100% of the purchase price or $200 per device, but cannot exceed $200 annually per person and is subject to a statewide annual cap of $250,000 in total credits issued. To claim the credit, individuals must obtain a certificate from the Comptroller, which is issued on a first-come, first-served basis, and unused credit can be carried forward to future tax years. The bill takes effect July 1, 2025, applying to taxable years beginning after December 31, 2024.