HR 2427 · 117th Congress · Taxation

NFA Modernization Act of 2021

Introduced 2021-04-08· Sponsored by Rep. Raskin, Jamie [D-MD-8]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.(2021-10-19)

Plain Language Summary

[AI summary unavailable — showing source text] NFA Modernization Act of 2021 This bill increases from $200 to $300 the excise tax on the transfer of certain firearms. It also establishes a Firearms Trust Fund and transfers to such fund the revenues from the increased excise tax. The bill requires equal 50% expenditures from the fund for gun violence prevention initiatives of the Bureau of Alcohol, Firearms, and Explosives and the Office of Justice Programs of the Department of Justice.…

Summarized by Claude AI · Non-partisan · For informational purposes only