REDUCTION OF TRANSFER AND MANUFACTURING TAXES FOR CERTAIN DEVICES.

SEC. 70436. REDUCTION OF TRANSFER AND MANUFACTURING TAXES FOR CERTAIN DEVICES. (a) Transfer Tax.—Section 5811(a) is amended to read as follows: “(a) Rate.—There shall be levied, collected, and paid on firearms transferred a tax at the rate of— “(1) $200 for each firearm transferred in the case of a machinegun or a destructive device, and “(2) $0 for any firearm transferred which is not described in paragraph (1).” . (b) Making Tax.—Section 5821(a) is amended to read as follows: “(a) Rate.—There shall be levied, collected, and paid upon the making of a firearm a tax at the rate of— “(1) $200 for each firearm made in the case of a machinegun or a destructive device, and “(2) $0 for any firearm made which is not described in paragraph (1).” . (c) Conforming Amendment.—Section 4182(a) is amended by adding at the end the following: “For purposes of the preceding sentence, any firearm described in section 5811(a)(2) shall be deemed to be a firearm on which the tax provided by section 5811 has been paid.” (d) [26 U.S.C. 4182 note] Effective Date.—The amendments made by this section shall apply to calendar quarters beginning more than 90 days after the date of the enactment of this Act.