The RIFLE Act would repeal the federal tax on transfers covered by Section 5811 of the Internal Revenue Code. The repeal would apply to transfers made after the Act becomes law. The Act also states that it would not place firearms regulated under the National Firearms Act under the Consumer Product Safety Commission's jurisdiction.
People making transfers that would have been subject to the Section 5811 tax would no longer owe that tax for transfers after enactment. The bill does not provide further details about how other requirements would apply.
The bill would remove the specified transfer tax. No publicly available information about the tax's fiscal effects or other costs is provided.
No publicly available information.
No publicly available information.