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Internal Revenue Code of 1986

The main body of federal tax law in the United States, which includes rules for various taxes, including excise taxes on certain goods.

National Firearms Act (NFA)

A federal law passed in 1934 that heavily regulates certain types of firearms, such as machine guns, short-barreled rifles/shotguns, and silencers, requiring registration and special taxes.

Less-than-lethal projectile device

A device specifically designed not to kill or seriously injure, that cannot fire standard ammunition or projectiles faster than 500 feet per second, and does not use certain types of ammunition feeding mechanisms.

Excise tax

A tax levied on the sale of specific goods or services, often included in the price of the item. In this context, it refers to taxes on firearms and ammunition.

Ammunition feeding devices

Components of a firearm that hold and deliver ammunition into the firing chamber, such as magazines or clips.

Secretary

Refers to the Secretary of the Treasury, as the bill amends the Internal Revenue Code which falls under the Treasury Department's purview.