Modernizes tax and regulatory treatment of less-lethal weapons under the Internal Revenue Code and National Firearms Act.
The Innovate Less Lethal to De-Escalate Tax Modernization Act amends the Internal Revenue Code to exempt certain less-than-lethal projectile devices from firearms and ammunition tax. These devices must be designed to not cause death or serious bodily injury and must not accept certain types of ammunition. The bill also requires the Secretary of the Treasury to annually update and publish a list of these devices. Additionally, the bill modifies the National Firearms Act to exempt these devices from certain regulatory requirements.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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