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 designed to shoot ammunition faster than 500 feet per second and 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. 

The Congressional Budget Act of 1974, as amended, stipulates that revenue estimates provided by the staff of the Joint Committee on Taxation (JCT) will be the official estimates for all tax legislation considered by the Congress. As such, CBO incorporates those estimates into its cost estimates of the effects of legislation. The estimates for the revenue provisions of H.R. 3269 were provided by JCT.