A bill to amend the Internal Revenue Code of 1954 to make certain changes relating to the administration of the excise taxes on alcohol, tobacco, and firearms, and for other purposes.

Summary

Amends the Internal Revenue Code to provide that if any firearm required to be registered in the National Firearms Registration and Transfer Record is not so registered then provisions relating to judicial action to enforce forfeiture and the treatment of seized personal property valued at $2,500 or less shall not apply to any such firearm. Provides that if such a firearm is seized by the United States then: (1) no property rights shall exist in such firearm; and (2) such firearm shall be summarily forfeited to the United States. Allows reimbursement to the owner of forfeited firearms in certain specified circumstances. Revises provisions concerning the registration of firearms dealers, importers, and manufacturers to provide for registration in each State where such business is to be carried on rather than in each internal revenue district. Revises rules relating to the filing of returns of alcohol, tobacco, and firearms taxes.

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Documents

1 official file

• Introduced in House

  summary · EN · 15 April 1986

  Open at official source

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