RIFLE Act

This bill would end the federal tax that’s charged when certain regulated firearms are transferred. It also makes related updates in the tax code so everything lines up with the change. The change would start applying to transfers made after the bill becomes law. The bill also says it does not move these firearms under the Consumer Product Safety Commission. Existing oversight stays the same; only the tax is removed.

Key points

• Who is affected: People and businesses transferring firearms covered by the National Firearms Act.
• What changes: The federal transfer tax is repealed, with related clean-up changes to tax rules; oversight does not shift to the Consumer Product Safety Commission.
• When: Applies to transfers after the date it becomes law.