New Mexico legislation · 2026 Regular Session
New Mexico HB232: GUN STORAGE TAX CREDIT
Status: Introduced, January 29, 2026
What the bill says
An act relating to taxation; creating the gun storage income tax credit.
From the introduced text, January 29, 2026:
AN ACT RELATING TO TAXATION; CREATING THE GUN STORAGE INCOME TAX CREDIT. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. A new section of the Income Tax Act is enacted to read: "[NEW MATERIAL] GUN STORAGE INCOME TAX CREDIT.-- A. For taxable years prior to January 1, 2029, a taxpayer who is not a dependent of another individual and who, on or after July 1, 2026, purchases a secure gun storage may apply for, and the department may allow, a one-time credit against the taxpayer's tax liability imposed pursuant to the Income Tax Act in an amount equal to the price paid for a secure gun storage, not to exceed one thousand dollars ($1,000). The department shall allow a credit only for a .233078.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ secure gun storage certified pursuant to Subsection B of this section. The tax credit provided by this section may be referred to as the "gun storage income tax credit". B. A taxpayer shall apply for certification of eligibility for a credit from the department of public safety on forms and in the manner prescribed by that department. The aggregate amount of credits that may be certified as eligible in any calendar year is five hundred thousand dollars ($500,000). Completed applications shall be …
Sponsors
- Randall T. Pettigrew (R, HD-061) · primary sponsor
- Jimmy G. Mason (R, HD-066)
- John Block (R, HD-051)
Latest actions
- : Sent to HCPAC - Referrals: HCPAC/HTRC
- : Action Postponed Indefinitely
Subjects: TAXATION, INCOME
Common questions
- What is HB232?
- HB232 is a bill in the New Mexico Legislature (2026 Regular Session): GUN STORAGE TAX CREDIT.
- What does HB232 do?
- In its own words: An act relating to taxation; creating the gun storage income tax credit.
- What is the status of HB232?
- Introduced as of January 29, 2026. Latest action: Sent to HCPAC - Referrals: HCPAC/HTRC (January 29, 2026).
- Who sponsored HB232?
- Randall T. Pettigrew (R, HD-061), with 2 co-sponsors.
- Where is the official record for HB232?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=232&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.