H.R. 2427 · 117th Congress
NFA Modernization Act of 2021
- Stage
- In committee
- Sponsor
- Jamie Raskin
- Introduced
- 2021-04-08
- Latest action
- 2021-10-19 · Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.
Summary
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.