HB1699
To Add Firearm Safety Devices And Firearm Storage Devices To The Sales Tax Holiday; And To Declare An Emergency.
Last Action (May 5, 2025): Died in House Committee at Sine Die adjournment.
Sponsors
AI-Generated Summary
House Bill 1699 amends Arkansas state law regarding the annual sales tax holiday by adding firearm safety devices and firearm storage devices to the list of tax-exempt items. The bill defines a 'firearm safety device' as a mechanism equipped or installed on a firearm to prevent unauthorized access or operation. A 'firearm storage device' is defined as a container or enclosure secured by a lock—such as a combination, key, or biometric lock—designed for the primary purpose of safely storing a firearm. The legislation includes an emergency clause, citing a mental health crisis and the desire to reduce accidental deaths by incentivizing the purchase of these safety products. By declaring an emergency, the bill aims to take effect immediately to ensure proper notification to sellers before the annual August sales tax holiday.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries include Arkansas firearm owners and purchasers who intend to buy safety or storage devices, as they will realize cost savings equal to the state and local sales tax during the designated holiday weekend. Additionally, retailers of these devices may benefit from increased consumer demand during the tax-free period.
Who Might Suffer?
The primary entity negatively impacted is the state and local government treasuries, which will experience a reduction in tax revenue during the sales tax holiday period due to the exemption of these items from sales tax collection. There is no specific private group or demographic that suffers a direct or quantifiable negative impact from the passage of this legislation.
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