A bill to amend the Internal Revenue Code of 1986 to impose an additional tax on handguns, to establish a program for the compensation of victims of handgun crimes, and to use the proceeds of such additional tax to fund victim compensation under such program.
Victims of Handgun Crimes Compensation Tax Act of 1987 - Amends the Internal Revenue Code to increase from ten percent to 40 percent the excise tax on pistols and revolvers.
Establishes in the Treasury a trust fund to be known as the Victims of Handgun Crimes Trust Fund. Appropriates to such Trust Fund an amount equivalent to 62.5 percent of the amounts received through the imposition of the excise tax on pistols and revolvers.
Amends the Victims of Crime Act of 1984 to require the Attorney General to make grants to eligible crime victim compensation programs from such trust fund.
Introduced in House
Introduced in House
Referred to House Committee on The Judiciary.
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Criminal Justice.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line