HR 226 - Tax credit for sale of assault weapons to government

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To amend the Internal Revenue Code of 1986 to allow a credit against
tax for surrendering to authorities certain assault weapons.

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In the case of an individual who
surrenders a specified assault weapon to the United States or a
State or local government (or political subdivision thereof) as
part of a Federal, State, or local public safety program to
reduce the number of privately owned weapons, on the election
of the taxpayer there shall be allowed as a credit against the
tax imposed by this chapter an amount equal to $2,000.
``(2) Year credit allowed.--The amount of the credit under
paragraph (1) shall be allowed \1/2\ for the taxable year
during which the assault weapon was so surrendered and \1/2\ in
the next taxable year.

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The following rifles or copies or duplicates
thereof:
``(i) AK, AKM, AKS, AK-47, AK-74, ARM,
MAK90, Misr, NHM 90, NHM 91, SA 85, SA 93,
VEPR,
``(ii) AR-10,
``(iii) AR-15, Bushmaster XM15, Armalite
M15, or Olympic Arms PCR,
``(iv) AR70,
``(v) Calico Liberty,
``(vi) Dragunov SVD Sniper Rifle or
Dragunov SVU,
``(vii) Fabrique National FN/FAL, FN/LAR,
or FNC,
``(viii) Hi-Point Carbine,
``(ix) HK-91, HK-93, HK-94, or HK-PSG-1,
``(x) Kel-Tec Sub Rifle,
``(xi) M1 Carbine,
``(xii) Saiga,
``(xiii) SAR-8, SAR-4800,
``(xiv) SKS with detachable magazine,
``(xv) SLG 95,
``(xvi) SLR 95 or 96,
``(xvii) Steyr AUG,
``(xviii) Sturm, Ruger Mini-14,
``(xix) Tavor,
``(xx) Thompson 1927, Thompson M1, or
Thompson 1927 Commando, or
``(xxi) Uzi, Galil and Uzi Sporter, Galil
Sporter, or Galil Sniper Rifle (Galatz).
``(B) The following pistols or copies or duplicates
thereof:
``(i) Calico M-110,
``(ii) MAC-10, MAC-11, or MPA3,
``(iii) Olympic Arms OA,
``(iv) TEC-9, TEC-DC9, TEC-22 Scorpion, or
AB-10, or
``(v) Uzi.
``(C) The following shotguns or copies or
duplicates thereof:
``(i) Armscor 30 BG,
``(ii) SPAS 12 or LAW 12,
``(iii) Striker 12, or
``(iv) Streetsweeper.
``(D) A semiautomatic rifle that has an ability to
accept a detachable magazine, and that has--
``(i) a folding or telescoping stock,
``(ii) a threaded barrel,
``(iii) a pistol grip,
``(iv) a forward grip, or
``(v) a barrel shroud.
``(E)(i) Except as provided in clause (ii), a
semiautomatic rifle that has a fixed magazine with the
capacity to accept more than 10 rounds.

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Honestly, $2,000 for a Saiga doesn't sound bad to me, even if it's spread over 2 years as a tax credit.

But GovTracker gives it a 3% chance of surviving committee.

http://www.govtrack.us/congress/bills/113/hr226

Is it a refundable tax credit? For some AR's and AK's even if they were 1000 or less before you could probably snag 2k cash for them right now.

Soo after the gangbangers steeal the legaly purchased weapons they can sell it to the .gov and have clean credit....Nice....
Do they give bammaphones with that??

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Originally Posted by zteknik

Soo after the gangbangers steeal the legaly purchased weapons they can sell it to the .gov and have clean credit....Nice....
Do they give bammaphones with that??

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http://www.youtube.com/watch?v=neKXc7pw4go

I have a appreciation of ponies!

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Originally Posted by Ridge

http://www.youtube.com/watch?v=neKXc7pw4go

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Love G-Mod!!!![Beer]

Hi-Point carbines, SKS, and MPAs are worth a lot less than 2K.

I pity anyone who tries to turn in an unregistered Streetsweeper.

I'm thinking a fixed magazine that is capable of more than 10 rounds. I have a Marlin 60 that doesn't shoot anymore. I think I gave $50 for it several years ago.

You can just get a tax credit for turning in your firearms after more taxes are imposed. What a sweet deal! [Bang]

so how cheaply could you assemble a non-functioning AK /AR lookalike.

It is a different method of setting a lower bound on a price. Even if I thought it a good idea, I hate mucking with the tax code like that. Hate isn't a strong enough word.

Buy a snootload of 80% lowers and turn them in? Since the lower is the firearm by ATF definition.

O2

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Originally Posted by O2HeN2

Buy a snootload of 80% lowers and turn them in? Since the lower is the firearm by ATF definition.

O2

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Perhaps, but an 80% lower isn't technically a firearm per the ATF (which is why they can sell/ship 80% lowers directly to your house.

If you drilled them and did a shitty job of it, then maybe they could be counted. [Dunno]

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Originally Posted by BuffCyclist

If you drilled them and did a shitty job of it, then maybe they could be counted. [Dunno]

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Why not? They're just going to melt it down anyway so its not like it has to function.



In all seriousness though this has to be stopped. Once they establish a tax credit for turning in your guns, when they go about making it mandatory they will claim the tax credit covers them from a 5th amendment standpoint (taking without just compensation).

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Originally Posted by merl

so how cheaply could you assemble a non-functioning AK /AR lookalike.

It is a different method of setting a lower bound on a price. Even if I thought it a good idea, I hate mucking with the tax code like that. Hate isn't a strong enough word.

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AK for $500.

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Hi-Point carbines, SKS, and MPAs are worth a lot less than 2K.

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The SKS mentioned is the "D" not just some SKS with a tapco mag in it.

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Except as provided in clause (ii), a
semiautomatic rifle that has a fixed magazine with the
capacity to accept more than 10 rounds.

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Someone has to see this loophole before it gets passed. Any Marlin 60 would be worth $$$ so there has to be a .22 exemption.

Just some thoughts.

That anyone here is even "pondering" a Tax credit is embarrassing, to say the least.

I could easily go buy a handful of Mossberg tactical 22 LR's for $300 and sell them to the Feds for $2K a pop. Sounds like a good deal to me.