Bill > S05813

This bill imposes an eleven percent excise tax on the gross receipts from the retail sale of firearms, major components of firearms, and ammunition, effective July 1, 2026, with the revenue generated to be deposited into a newly established "gun violence prevention and school safety fund." This fund will support various initiatives including enhancing school safety through mental health services and physical security, funding programs for the safe removal of firearms from prohibited individuals, supporting victims of gun violence, educating the public on gun safety, and funding gun violence research. The bill also requires licensed dealers, manufacturers, and sellers of ammunition to register with the state and outlines penalties for non-compliance, while also establishing a process for the revocation and reinstatement of registration certificates. Furthermore, the bill mandates that the division of state police share lists of licensed firearm dealers, manufacturers, and ammunition sellers with the department of taxation and finance to aid in tax administration and allows for the revocation of licenses if a business's registration certificate is revoked.