Summary

Creates a federal excise tax exemption for specified “less‑than‑lethal projectile devices” and related cartridges, and removes those devices from the special firearms definition in federal law. It sets a 500 feet‑per‑second velocity cap and other design criteria to qualify, directs the Treasury to classify devices on request within 90 days, and requires public lists and an annual report to tax committees. The tax change applies to articles sold after the law is enacted; new classification requests follow the bill’s timing rules.

• Exempts defined less‑than‑lethal projectile devices and certain cartridges from the federal excise tax.
• Defines qualifying devices by a 500 ft/s velocity cap plus design limits to prevent conversion to lethal firearms.
• Requires the Treasury to decide classification requests within 90 days and maintain a public, annually updated list of approved devices.
• Requires a separate annual list and committee report of devices that would qualify if the 500 ft/s limit were removed, with rationale.
• Amends the National Firearms Act definition to explicitly exclude these less‑than‑lethal devices from NFA coverage.
• Tax exemption applies to articles sold after enactment; classification request timing rules apply to requests filed after enactment.
• Aims to lower tax and regulatory barriers for manufacturers and importers of less‑than‑lethal tools while creating administrative oversight.
• Includes design and conversion safeguards but leaves some enforcement and classification discretion to Treasury determinations.