H.R. 3269 would exempt certain firearms, shells, and cartridges from the firearm and ammunition excise and transfer taxes. The bill would apply to firearms, and the shells and cartridges designed for those firearms, that are not intended to cause death or serious injury. Under current law, the excise tax is 11 percent of the purchase price and the transfer tax is $200 per firearm.

H.R. 3269 also would require the Department of the Treasury to publish a list of firearms that it determines qualify for the exemption and update it annually. Lastly, the bill would require the Treasury to report annually to the Congress on any updates made to the list.