S. 1224

119 S1224 IS: Repealing Illegal Freedom and Liberty Excises Act
 U.S. Senate
 2025-04-01
 text/xml
 EN
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 II  119th CONGRESS  1st Session  S. 1224  IN THE SENATE OF THE UNITED STATES   April 1 (legislative day, March 31), 2025   Mr. Cotton  (for himself,  Mr. Hoeven ,  Mr. Daines ,  Mr. Cramer ,  Mr. Boozman ,  Mr. Scott of Florida ,  Mr. Budd ,  Mr. Ricketts ,  Mrs. Fischer ,  Mr. Cruz ,  Mr. Moreno ,  Mr. Sheehy , and  Mr. Justice ) introduced the following bill; which was read twice and referred to the  Committee on Finance    A BILL
To amend the Internal Revenue Code of 1986 to repeal the firearm transfer tax, and for other purposes.
1.
Short title
This Act may be cited as the   Repealing Illegal Freedom and Liberty Excises Act   or the   RIFLE Act  .
2.
Repeal of certain taxes relating to firearms
(a)
Firearm transfer tax repealed
 Section 5811  of the Internal Revenue Code of 1986 is hereby repealed.
(b)
Conforming amendments
(1)
Section 4182(a) of such Code is amended by striking  on which the tax provided by section 5811 has been paid  and inserting  with respect to which the tax provided by section 5811 (as in effect immediately before the enactment of the  Repealing Illegal Freedom and Liberty Excises Act ) would have applied but for its repeal .
(2)
Section 5846 of such Code is amended by striking  , 5811, .
(3)
Section 5852 of such Code is amended by striking  section 5811  each place it appears and inserting  section 5811 (as in effect immediately before the enactment of the  Repealing Illegal Freedom and Liberty Excises Act ) .
(4)
Section 5853 of such Code is amended by striking  section 5811  and inserting  section 5811 (as in effect immediately before the enactment of the  Repealing Illegal Freedom and Liberty Excises Act ) .
(5)
Section 5854 of such Code is amended by striking  section 5811  and inserting  section 5811 (as in effect immediately before the enactment of the  Repealing Illegal Freedom and Liberty Excises Act ) .
(c)
Effective date
The amendments made by this section shall apply to transfers after the date of the enactment of this Act.
3.
Rule of construction
Nothing in this Act shall be construed to place any firearms regulated under  Chapter 53  of the Internal Revenue Code of 1986 (the National Firearms Act) under the jurisdiction of the United States Consumer Product Safety Commission.