Real Cost of Handgun Ammunition Act of 1995 (Introduced in the Senate)

S 119 IS
104th CONGRESS
1st Session
S. 119
To tax 9 millimeter, .25 caliber, and .32 caliber bullets.
IN THE SENATE OF THE UNITED STATES
January 4, 1995
Mr. Moynihan introduced the following bill; which was read twice and
referred to the Committee on Finance

A BILL
To tax 9 millimeter, .25 caliber, and .32 caliber bullets.
  Be it enacted by the Senate and House of Representatives of the
  United States of America in Congress assembled,

That this Act may be cited as the `Real Cost of Handgun Ammunition
Act of 1995'

SEC. 101. INCREASE IN TAX ON CERTAIN BULLETS.

  (a) In General: Section 4181 of the Internal Revenue Code of 1986
  (relating to the imposition of tax on firearms, etc.) is
  amended by adding at the end the following new flush
  sentence:

`In the case of 9 millimeter, .25 caliber, or .32 caliber
ammunition, the rate of tax under this section shall be 1,000
percent.'

  (b) Exemption for Law Enforcement Purposes: Section 4182 of the
  Internal Revenue Code of 1986 (relating to exemptions) is amended
  by adding at the end the following new subsection:

  `(d) Law Enforcement: The last sentence of section 4181 shall not
  apply to any sale (not otherwise exempted) to, or for the use of,
  the United States (or any department, agency, or instrumentality
  thereof) or a State or political subdivision thereof (or any
  department, agency, or instrumentality thereof).'

  (c) Effective Date: The amendments made by this section shall
  apply to sales after December 31, 1997.
