B.O.H.I.C.

[Subdeacon Joe]

H.R.226 - Support Assault Firearms Elimination and Reduction for our Streets Act

 

A BILL

 

 

 

To amend the Internal Revenue Code of 1986 to allow a credit against

tax for surrendering to authorities certain assault weapons.

 

Be it enacted by the Senate and House of Representatives of the

United States of America in Congress assembled,

 

SECTION 1. SHORT TITLE.

 

This Act may be cited as the ``Support Assault Firearms Elimination

and Reduction for our Streets Act''.

 

SEC. 2. ASSAULT WEAPON TURN-IN CREDIT.

 

(a) In General.--Subpart A of part IV of subchapter A of chapter 1

of the Internal Revenue Code of 1986 is amended by inserting before

section 26 the following new section:

 

``SEC. 25E. ASSAULT WEAPON TURN-IN CREDIT.

 

``(a) Allowance of Credit.--

``(1) In general.--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.

``( Special Rules.--

``(1) Weapon must be lawfully possessed.--No credit shall

be allowed under subsection (a) with respect to any specified

assault weapon not lawfully possessed by the taxpayer at the

time the weapon is surrendered.

 

All who believe that the IRS wouldn't add power to do things beyond that stand on your heads. That's right, head on the floor and feet on your head.

[Presidio]

Shucks. I ain't gonna get a tax credit at all......

 

 

Don't own any of that hardware on that thar' list...........

[Badlands Bob #61228]

Let me see if I understand this? If I happen to have a ragged old semi-auto shotgun that barely works and I cut off the stock and make it pistol grip only, I could get a $2,000 tax credit?

 

Hmmmm. I think I need to start watching the bargain barrels at the gun shops for potentially dangerous assault shotguns.

[Hacker, SASS #55963]

H.R.226 - Support Assault Firearms Elimination and Reduction for our Streets Act

 

 

 

All who believe that the IRS wouldn't add power to do things beyond that stand on your heads. That's right, head on the floor and feet on your head.

 

 

The IRS is adding power, the cogress is adding power to irs.

There is a difference. One implies irs makes laws, the other reality.

[Subdeacon Joe]

The IRS is adding power, the cogress is adding power to irs.

There is a difference. One implies irs makes laws, the other reality.

 

Don't IRS "regulations" effectively have the force of law? This bill, if passed, would give the IRS some authority over firearms. We have all seen how federal agencies with any sort of regulatory power effectively making law by adding regulations. Can we doubt that it will happen in this case too?

[Hacker, SASS #55963]

Don't IRS "regulations" effectively have the force of law? This bill, if passed, would give the IRS some authority over firearms. We have all seen how federal agencies with any sort of regulatory power effectively making law by adding regulations. Can we doubt that it will happen in this case too?

 

IF the bill passes. It is the legislature that is authorizing this pos. So it is the bill not the regulations. The IRS doesn't make law that is reserved for the legislature.