Bill > A10536

This bill imposes an excise tax of eleven percent on the gross receipts from the retail sale of firearms, major components of firearms, and ammunition within the state, with exceptions for sales to active or retired peace officers and law enforcement agencies, and for businesses with less than $5,000 in quarterly sales of these items. This tax will be administered by the Department of Taxation and Finance, which will require dealers, manufacturers, and sellers to register and file returns quarterly. The revenue generated from this tax will be deposited into a newly established "Gun Violence Prevention and School Safety Fund" to support various initiatives, including enhancing school safety, funding a court-based firearm relinquishment program, supporting victims of gun violence, promoting gun safety education, providing counseling, and funding gun violence research. The bill also outlines provisions for the administration and enforcement of this tax, including record-keeping requirements, penalties for non-compliance, and the process for revoking or reinstating registration certificates and licenses. The Division of State Police will also share a list of licensed firearm dealers, manufacturers, and ammunition sellers with the Department of Taxation and Finance to aid in tax administration.