Legislation Search

S. 364: Hearing Protection Act

This bill, known as the Hearing Protection Act, proposes to make several changes regarding firearm silencers, also referred to as mufflers. Below are the key aspects of what the bill would do:

1. Redefining Silencers

The bill seeks to amend the Internal Revenue Code to remove silencers from the definition of firearms. This means that silencers would no longer be classified alongside firearms for taxation and regulation purposes.

2. Registration and Licensing

Under the proposed legislation, individuals acquiring or possessing a firearm silencer would be considered to have met the registration and licensing requirements established by the National Firearms Act. This change aims to simplify the legal processes surrounding the ownership of silencers.

3. State Law Preemption

The bill would also preempt certain state laws regarding firearm silencers. Specifically, if a state law imposes taxes or additional requirements related to the making, transferring, using, possessing, or transporting of silencers, such laws would have no effect. This would ensure that federal regulations take precedence over state laws in these areas.

4. Destruction of Records

The Attorney General would be required to destroy any records related to the registration of firearm silencers that are currently maintained in the National Firearms Registration and Transfer Record. This process must be completed within one year of the enactment of the bill.

5. Amendments to Existing Definitions

This legislation proposes to update the definitions of firearm silencers and mufflers in the law. It clarifies what is considered a silencer or muffler, including devices intended to diminish the sound made by firearms.

6. Taxation Changes

Additionally, the bill introduces specific tax regulations for firearm silencers, including a 10% tax rate. It amends the current tax code to include silencers and mufflers in the list of taxable items.

7. Effective Dates

The changes proposed in this bill would take effect after a period of 90 days post-enactment, giving time for necessary adjustments to be made by manufacturers, importers, and consumers.

Relevant Companies

SSN - A company specializing in firearms and accessories, including silencers, would likely see a significant impact on its sales and regulatory compliance due to the changes regarding the classification and taxation of silencers.
RGR - As a manufacturer of firearms and related equipment, RGR could experience changes in demand for silencers that may arise from the legislative alterations in regulation.
HLIO - This company, involved in the development and sale of firearm accessories, may also experience shifts in its business operations and market strategy if this bill passes.

This is an AI-generated summary of the bill text. There may be mistakes.