Bill > HR4242

This bill, titled the "Innovate Less Lethal to De-Escalate Tax Modernization Act," aims to modify the Internal Revenue Code by creating tax exemptions and regulatory classifications for less-than-lethal projectile devices. Specifically, the bill exempts certain less-than-lethal projectile devices from firearms and ammunition taxes, defining such devices as those not designed to expel traditional ammunition, incapable of causing death or serious bodily injury, and unable to be easily modified to accept standard firearm ammunition. The bill requires the Secretary of the Treasury to maintain and annually update public lists of approved less-than-lethal devices, including a separate list for devices that marginally exceed velocity restrictions. Manufacturers can request classification for their devices, and the Secretary must respond within 90 days. The bill also amends the National Firearms Act to explicitly exclude these less-than-lethal projectile devices from firearm classification. These changes would apply to articles sold by manufacturers after the bill's enactment, with the intent of modernizing regulations to account for technological advancements in non-lethal weapons and provide clearer guidelines for their classification and taxation.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4242/all-info