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HR 2427 117th Congress House Taxation Firearms and explosives Government trust funds Transfer and inheritance taxes

NFA Modernization Act of 2021

Introduced: April 8, 2021 Introduced by: Raskin, Jamie Democratic · Maryland See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 19, 2021
Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.
Apr 8, 2021
Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Apr 8, 2021
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now October 19, 2021

Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.

 Committees of jurisdiction 3