We have received text from H.R. 4242: Innovate Less Lethal to De-Escalate Tax Modernization Act. This bill was received on 2025-06-27, and currently has 10 cosponsors.
Here is a short summary of the bill:
This bill, known as the Innovate Less Lethal to De-Escalate Tax Modernization Act, aims to amend the Internal Revenue Code to address advancements in technology related to less-than-lethal weapons. It proposes two main areas of focus: the taxation of certain less-than-lethal projectile devices and their classification under the National Firearms Act.
Key Provisions
1. Tax Exemptions
The bill seeks to exempt specific less-than-lethal projectile devices from federal firearms taxes. It proposes the following changes:
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The tax currently applied to firearms and ammunition will not apply to:
- Less-than-lethal projectile devices.
- Devices included on a list maintained by the Secretary of the Treasury.
- Shells or cartridges designed for use in these devices.
2. Definition of Less-than-Lethal Projectile Devices
The bill defines what constitutes a less-than-lethal projectile device as follows:
- A device that cannot readily be converted to use standard ammunition or to discharge projectiles at speeds exceeding 500 feet per second.
- Devices that are designed to be used in a manner that is unlikely to cause death or severe injury.
- Devices that do not accept common magazine-style feeding mechanisms used in semiautomatic firearms.
3. Classification Requests
Manufacturers or importers of these devices can request the Secretary of the Treasury to determine if their products meet the defined criteria. The Secretary must respond within 90 days.
4. Annual Review of Technologies
The legislation mandates that the Secretary of the Treasury create and annually update a list of recognized less-than-lethal projectile devices, as well as devices that may exceed the defined velocity but have potential for inclusion based on evolving technology. Additionally, there will be an annual report to Congress regarding these devices.
Effective Date
The provisions in this bill would apply to articles sold by manufacturers, producers, or importers after the bill is enacted into law.
Exemption Under the National Firearms Act
The bill also proposes to amend the National Firearms Act to include less-than-lethal projectile devices under its exemptions, thus specifying their treatment alongside antique firearms.
Relevant Companies
- None found
Representative David Schweikert Bill Proposals
Here are some bills which have recently been proposed by Representative David Schweikert:
- H.R.4242: Innovate Less Lethal to De-Escalate Tax Modernization Act
- H.R.4203: WEAR IT Act
- H.R.3996: To amend title XI of the Social Security Act to establish a pilot program for testing the use of a predictive risk-scoring algorithm to provide oversight of payments for durable medical equipment and clinical diagnostic laboratory tests under the Medicare program.
- H.R.3785: Forgotten Funds Act
- H.R.3467: To amend title XVIII to reform the Medicare Advantage program.
- H.R.3466: To amend the Immigration and Nationality Act to establish a skills-based immigration points system, to focus family-sponsored immigration on spouses and minor children, to eliminate the Diversity Visa Program, to set a limit on the number of refugees admitted annually to the United States, and for other purposes.
You can track bills proposed by Representative David Schweikert on Quiver Quantitative's politician page for Schweikert.
Representative David Schweikert Net Worth
Quiver Quantitative estimates that Representative David Schweikert is worth $604.0K, as of July 16th, 2025. This is the 339th highest net worth in Congress, per our live estimates.
Schweikert has approximately $0 invested in publicly traded assets which Quiver is able to track live.
You can track Representative David Schweikert's net worth on Quiver Quantitative's politician page for Schweikert.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
