National Firearms Exchange Act

TABLE OF CONTENTS:

Title I: Programs to Exchange Vouchers for Firearms

Title II: Tax Deduction for Taxpayers Who Donate

Merchandise Vouchers

National Firearms Exchange Act - Title I: Programs to Exchange Vouchers for Firearms - Amends the Omnibus Crime Control and Safe Streets Act of 1968 (Omnibus Act) to require the Director of the Bureau of Justice Assistance to establish procedures under which any unit of local government may apply for approval of a program to exchange merchandise vouchers for firearms. Requires the Director to establish criteria and procedures to determine whether any such program should be approved under this title.

Prohibits the Director from approving any program that does not provide that all firearms surrendered to the program will be destroyed, but does not require the destruction of a firearm until it is no longer needed for investigatory or evidentiary purposes.

Sets forth provisions regarding the timing of the approval process and the duration of approval status.

Requires the Director to make every effort to secure from State governments amnesty for certain offenses for persons surrendering firearms.

Authorizes the Director to make grants to approved programs. Requires the Director to establish grant application and award procedures for local governments whose programs are approved.

Requires the Director to submit to the Congress an assessment of the effectiveness of this title regarding programs to exchange merchandise vouchers for firearms and of approved programs and to establish criteria for evaluating such effectiveness.

Authorizes appropriations.

Amends the Federal criminal code to grant amnesty to an individual surrendering, or in the process of surrendering, a firearm to an approved program (thus making specified provisions of the Omnibus Act and the National Firearms Act inapplicable with respect to such individual), with exceptions.

Title II: Tax Deduction for Taxpayers Who Donate Merchandise Vouchers - Amends the Internal Revenue Code to allow a deduction for the fair market value of certain contributions of property or vouchers to be transferred to individuals surrendering firearms under a qualified gun exchange program.