(CNSNews.com) – Rep. Rosa DeLauro (D-Conn.) has introduced a bill that would give individuals a federal tax credit for surrendering their semiautomatic weapons.
The “Support Assault Firearms Elimination and Reduction for our Streets Act” would amend the Internal Revenue Code to “allow a credit against tax for surrendering to authorities certain assault weapons.”
Section 25E of the bill reads: 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.”
The bill states that the $2,000 tax credit will be allowed for the taxable year in which the weapon is surrendered and that only one credit will be permitted for each taxable year.