State Rep. Mike Sparks, R-Smyrna, and State Sen. Sara Kyle, D-Memphis, today announced bipartisan legislation that will make it less expensive for gun owners to safely store their firearms.
House Bill 761/Senate Bill 0551 will exempt the purchase of gun safes and gun locking devices from state retail sales tax in Tennessee. The state’s sales tax rate is 7 percent.
“This legislation expands gun-owners’ ability to safely store their firearm by incentivizing the sale of gun storage cabinets, vaults and locking devices that will make them more affordable for gun owners,” Sparks said. “Most importantly, it will create a safer environment for children and families and prevent thefts of firearms.”
The House version of the bill has 57 co-sponsors.
“Every responsible gun owner in the state of Tennessee understands the importance of safe storage. If this small tax break on gun safes and locking cabinets encourages better safe storage practices, it’s worth every penny,” said Kyle.
The General Assembly gave final approval for permit-less carry Monday, March 29. The bill heads to the governor’s desk for his signature.