Bill > A09563

This bill imposes an excise tax on the retail sale of ammunition. The tax rate is 5% for ammunition with a single projectile of .22 caliber or less, and 10% for all other ammunition. The revenue from this tax will be deposited into the newly created Firearm Violence Intervention Fund, which will be used to fund community-based and hospital-based violence intervention programs that provide services to individuals recovering from or witnessing acts of violence. The bill also authorizes the Commissioner of Taxation and Finance to review and periodically adjust the tax rates to maintain a consistent effect relative to inflation.