We have received text from H.R. 404: Hearing Protection Act. This bill was received on 2025-01-15, and currently has 51 cosponsors.
Here is a short summary of the bill:
This bill, known as the Hearing Protection Act, aims to amend various sections of the Internal Revenue Code and the United States Code in relation to firearm silencers. Below are the key components of what the bill proposes:
1. Removal of Silencers from Firearm Definition
The bill seeks to redefine the term "firearm" by removing silencers from its definition. This means that silencers would no longer be classified as firearms, which can change how they are regulated under federal law.
2. Equal Treatment of Silencers
The legislation proposes that individuals acquiring or possessing firearm silencers will be considered to have met the registration and licensing requirements set forth by the National Firearms Act. This simplifies the legal status of silencers for holders and manufacturers.
3. Preemption of State Laws
The bill would also preempt any state or local laws that impose taxes or extra regulations on silencers that could affect interstate commerce. This means states would not be allowed to impose their own regulations that differ from federal law regarding the sale and ownership of silencers.
4. Destruction of Records
Within a year of the law's enactment, the Attorney General would be required to destroy any records that register firearm silencers in the National Firearms Registration and Transfer Record. This measure aims to eliminate historical data on registered silencers that would no longer fall under federal regulation.
5. Amendments to Gun Control Regulations
The bill includes amendments to other sections of the United States Code that redefine rules concerning firearm silencers and mufflers. For example:
- The definitions of "firearm silencer" and "firearm muffler" would be clarified to specify the devices designed to silence or muffle the noise of a firearm.
- It introduces specific identification and serialization requirements for licensed importers and manufacturers of silencers.
6. Tax on Silencers
The bill imposes a 10% federal tax on the transfer or sale of firearm silencers and mufflers, thereby imposing a federal financial responsibility on silencers similar to that of other taxed items.
7. Effective Date
The amendments outlined in the bill would apply to activities and products after a period of 90 days from the enactment date of the law.
Relevant Companies
- RGR : Sturm, Ruger & Company, Inc. may see an increase in demand for their silencer products if they become less regulated.
- SAFM : American Outdoor Brands, which owns the Smith & Wesson brand, could benefit from streamlined regulations on silencers, potentially increasing sales.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
