Repeal the NFA Act

This bill would end the federal National Firearms Act by deleting it from the tax code. In simple terms, it wipes out Chapter 53 of the Internal Revenue Code, which is the part called the National Firearms Act. If this became law, the federal rules created by that act would no longer apply.

Key points:

• What it does: Repeals the National Firearms Act by removing Chapter 53 from the Internal Revenue Code.
• Who is affected: People and businesses covered by the National Firearms Act’s federal rules.
• When: The text provided does not state an effective date.