Should HB 5135 become law, it would amend the Internal Revenue Code of 1986 to impose these new tax rates directly on manufacturers, producers, or importers of specified firearms and ammunition devices. This amendment aims to create a financial barrier that could potentially reduce the proliferation of high-capacity weaponry in civilian markets. Furthermore, the bill includes exemptions for purchases made by the United States or local governments, which could affect law enforcement and military procurement processes.
Summary
House Bill 5135, known as the 'Assault Weapons Excise Act', proposes a dramatic increase in taxation on the sale of large capacity ammunition feeding devices and semiautomatic assault weapons. Specifically, the bill seeks to impose an additional excise tax of 1,000 percent on these items, marking a significant shift in how firearms and related devices are economically regulated in the United States. The expectation is that such an exorbitant tax will serve to discourage the sale and ownership of these types of weapons, which have been at the center of gun violence debates.
Contention
The bill is anticipated to draw considerable contention among various stakeholders. Proponents argue that the legislation is a necessary measure to curb gun violence and enhance public safety through financial deterrence. Conversely, opponents contend that this tax could infringe on the rights of law-abiding citizens and disproportionately impact lawful firearms enthusiasts. Additionally, there are concerns that such a high tax could lead to unintended consequences, such as illegal trafficking or a black market for firearms, ultimately thwarting the bill's intended goals.
Notable_points
One notable aspect of HB 5135 is its broad definition of large capacity ammunition feeding devices and semiautomatic assault weapons, which could encompass a wide range of products. For the purposes of this bill, a 'large capacity ammunition feeding device' is defined as any device capable of holding more than 10 rounds of ammunition, which could encompass many common firearm accessories. The precise definitions and implications of this legislation have raised questions about its enforceability and its potential to impact not just the firearms market but also the broader conversation around gun control and rights.
Age 21 Act This bill raises the minimum age to purchase a large capacity ammunition feeding device or semiautomatic assault weapon from 18 to 21 years of age.
Assault Weapons Ban of 2023 This bill makes it a crime to knowingly import, sell, manufacture, transfer, or possess a semiautomatic assault weapon (SAW) or large capacity ammunition feeding device (LCAFD). The prohibition does not apply to a firearm that is (1) manually operated by bolt, pump, lever, or slide action, except for certain shotguns; (2) permanently inoperable; (3) an antique; (4) only capable of firing rimfire ammunition; or (5) a rifle or shotgun specifically identified by make and model. The bill also exempts from the prohibition the following, with respect to a SAW or LCAFD: importation, sale, manufacture, transfer, or possession related to certain law enforcement efforts, or authorized tests or experiments; importation, sale, transfer, or possession related to securing nuclear materials; and possession by a retired law enforcement officer. The bill permits continued possession, sale, or transfer of a grandfathered SAW, which must be securely stored. A licensed gun dealer must conduct a background check prior to the sale or transfer of a grandfathered SAW between private parties. The bill permits continued possession of, but prohibits sale or transfer of, a grandfathered LCAFD. Newly manufactured LCAFDs must display serial number identification. Newly manufactured SAWs and LCAFDs must display the date of manufacture. The bill also allows a state or local government to use Edward Byrne Memorial Justice Assistance Grant Program funds to compensate individuals who surrender a SAW or LCAFD under a buy-back program.
Semiautomatic military-style assault weapon sale or transfer prohibited, buyback program authorized for semiautomatic military-style assault weapons, and money appropriated.
Prohibiting the sale or transfer of a semiautomatic military-style assault weapons, authorizing a buyback program for these weapons and appropriating money
Possession of large-capacity ammunition magazines, semiautomatic military-style assault weapons, .50 caliber or larger firearms, undetectable firearms and other weapons prohibition