Shown Here:
Introduced in House (02/27/2018)
Gun Violence Prevention and Safe Communities Act of 2018
This bill amends the Internal Revenue Code, with respect to the excise tax on the sale of firearms by manufacturers, producers, or importers, to: (1) increase the rate of such tax to 20% on pistols, revolvers, and other firearms and on any lower frame or receiver for a firearm; and (2) impose a 50% tax on shells and cartridges. The bill exempts any department, agency, or instrumentality of the United States from such tax.
The bill allocates revenues from the increased excise tax under this bill for law enforcement and public safety grant programs, including programs for research on gun violence and its prevention.
The bill: (1) increases the occupational tax on importers, manufacturers, and dealers in firearms and the transfer tax on firearms; and (2) modifies the definition of "firearm" for excise tax purposes to include a semiautomatic pistol chambered for cartridges and configured with receivers commonly associated with rifles and capable of accepting detachable magazines.
https://www.congress.gov/bill/115th-congress/house-bill/5103
fyi, currently the Pittman-Robertson Act, which derives its revenues from sportsmen through excise taxes on firearms, ammunition, and hunting equipment, imposes an 11% excise tax on long guns, ammunition and archery equipment, and a 10% excise tax on handguns. Revenue is deposited in a special trust fund under the management of the U.S. Fish and Wildlife Service to be used for state wildlife restoration projects. One-half of the tax revenue collected on handguns and archery equipment may be used by state fish and wildlife agencies for hunter safety training and range development. Since its establishment, Pittman-Robertson has collected nearly $7.2 billion to fund conservation efforts across the country.
source NRA ILA.
notice the new HR's tax increase goes for LE and anti gun research!
Introduced in House (02/27/2018)
Gun Violence Prevention and Safe Communities Act of 2018
This bill amends the Internal Revenue Code, with respect to the excise tax on the sale of firearms by manufacturers, producers, or importers, to: (1) increase the rate of such tax to 20% on pistols, revolvers, and other firearms and on any lower frame or receiver for a firearm; and (2) impose a 50% tax on shells and cartridges. The bill exempts any department, agency, or instrumentality of the United States from such tax.
The bill allocates revenues from the increased excise tax under this bill for law enforcement and public safety grant programs, including programs for research on gun violence and its prevention.
The bill: (1) increases the occupational tax on importers, manufacturers, and dealers in firearms and the transfer tax on firearms; and (2) modifies the definition of "firearm" for excise tax purposes to include a semiautomatic pistol chambered for cartridges and configured with receivers commonly associated with rifles and capable of accepting detachable magazines.
https://www.congress.gov/bill/115th-congress/house-bill/5103
fyi, currently the Pittman-Robertson Act, which derives its revenues from sportsmen through excise taxes on firearms, ammunition, and hunting equipment, imposes an 11% excise tax on long guns, ammunition and archery equipment, and a 10% excise tax on handguns. Revenue is deposited in a special trust fund under the management of the U.S. Fish and Wildlife Service to be used for state wildlife restoration projects. One-half of the tax revenue collected on handguns and archery equipment may be used by state fish and wildlife agencies for hunter safety training and range development. Since its establishment, Pittman-Robertson has collected nearly $7.2 billion to fund conservation efforts across the country.
source NRA ILA.
notice the new HR's tax increase goes for LE and anti gun research!