OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
April 3, 2013
To Fiscal Note on LCO No. 5460
AN ACT CONCERNING GUN VIOLENCE PREVENTION AND CHILDREN'S SAFETY.
The amendment also establishes a non-refundable Personal Income Tax credit of up to $150 for the purchase of certain gun safes. This results in a significant annual revenue loss. The actual timing of the revenue loss is dependent upon the timing of purchases of eligible safes.
There are currently approximately 179,000 Connecticut residents holding a pistol permit, and an unknown number of additional residents owning long guns. Based on gun safe manufacturers' data, it is anticipated that at least 1,500 gun safes would be sold annually in Connecticut.