SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Support Assault Firearms Elimination 
and Reduction for our Streets Act''.

SEC. 2. ASSAULT WEAPON TURN-IN CREDIT.

    (a) In General.--Subpart A of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by inserting before 
section 26 the following new section:

``SEC. 25E. ASSAULT WEAPON TURN-IN CREDIT.

    ``(a) Allowance of Credit.--
            ``(1) In general.--In the case of an individual who 
        surrenders a specified assault weapon to the United States or a 
        State or local government (or political subdivision thereof) as 
        part of a Federal, State, or local public safety program to 
        reduce the number of privately owned weapons, on the election 
        of the taxpayer there shall be allowed as a credit against the 
        tax imposed by this chapter an amount equal to $2,000.
            ``(2) Year credit allowed.--The amount of the credit under 
        paragraph (1) shall be allowed \1/2\ for the taxable year 
        during which the assault weapon was so surrendered and \1/2\ in 
        the next taxable year.
    ``(b) Special Rules.--
            ``(1) Weapon must be lawfully possessed.--No credit shall 
        be allowed under subsection (a) with respect to any specified 
        assault weapon not lawfully possessed by the taxpayer at the 
        time the weapon is surrendered.
            ``(2) Substantiation requirement.--No credit shall be 
        allowed under subsection (a) for the surrender of any specified 
        assault weapon unless the taxpayer substantiates the surrender 
        by a contemporaneous written acknowledgment of the surrender by 
        the Federal, State, or local governmental entity to which the 
        weapon is surrendered.
            ``(3) Denial of double benefit.--The taxpayer may elect the 
        application of this section with respect to only 1 weapon, and 
        if such election is made for any taxable year, no deduction 
        shall be allowed under any other provision of this chapter with 
        respect to the surrender or contribution of the specified 
        assault weapon.
    ``(c) Assault Weapon.--For purposes of this section--
            ``(1) In general.--The term `specified assault weapon' 
        means any of the following:
                    ``(A) The following rifles or copies or duplicates 
                thereof:
                            ``(i) AK, AKM, AKS, AK-47, AK-74, ARM, 
                        MAK90, Misr, NHM 90, NHM 91, SA 85, SA 93, 
                        VEPR,
                            ``(ii) AR-10,
                            ``(iii) AR-15, Bushmaster XM15, Armalite 
                        M15, or Olympic Arms PCR,
                            ``(iv) AR70,
                            ``(v) Calico Liberty,
                            ``(vi) Dragunov SVD Sniper Rifle or 
                        Dragunov SVU,
                            ``(vii) Fabrique National FN/FAL, FN/LAR, 
                        or FNC,
                            ``(viii) Hi-Point Carbine,
                            ``(ix) HK-91, HK-93, HK-94, or HK-PSG-1,
                            ``(x) Kel-Tec Sub Rifle,
                            ``(xi) M1 Carbine,
                            ``(xii) Saiga,
                            ``(xiii) SAR-8, SAR-4800,
                            ``(xiv) SKS with detachable magazine,
                            ``(xv) SLG 95,
                            ``(xvi) SLR 95 or 96,
                            ``(xvii) Steyr AUG,
                            ``(xviii) Sturm, Ruger Mini-14,
                            ``(xix) Tavor,
                            ``(xx) Thompson 1927, Thompson M1, or 
                        Thompson 1927 Commando, or
                            ``(xxi) Uzi, Galil and Uzi Sporter, Galil 
                        Sporter, or Galil Sniper Rifle (Galatz).
                    ``(B) The following pistols or copies or duplicates 
                thereof:
                            ``(i) Calico M-110,
                            ``(ii) MAC-10, MAC-11, or MPA3,
                            ``(iii) Olympic Arms OA,
                            ``(iv) TEC-9, TEC-DC9, TEC-22 Scorpion, or 
                        AB-10, or
                            ``(v) Uzi.
                    ``(C) The following shotguns or copies or 
                duplicates thereof:
                            ``(i) Armscor 30 BG,
                            ``(ii) SPAS 12 or LAW 12,
                            ``(iii) Striker 12, or
                            ``(iv) Streetsweeper.
                    ``(D) A semiautomatic rifle that has an ability to 
                accept a detachable magazine, and that has--
                            ``(i) a folding or telescoping stock,
                            ``(ii) a threaded barrel,
                            ``(iii) a pistol grip,
                            ``(iv) a forward grip, or
                            ``(v) a barrel shroud.
                    ``(E)(i) Except as provided in clause (ii), a 
                semiautomatic rifle that has a fixed magazine with the 
                capacity to accept more than 10 rounds.
                    ``(ii) Clause (i) shall not apply to an attached 
                tubular device designed to accept, and capable of 
                operating only with, .22 caliber rimfire ammunition.
                    ``(F) A semiautomatic pistol that has the ability 
                to accept a detachable magazine, and has--
                            ``(i) a second pistol grip,
                            ``(ii) a threaded barrel,
                            ``(iii) a barrel shroud, or
                            ``(iv) the capacity to accept a detachable 
                        magazine at a location outside of the pistol 
                        grip.
                    ``(G) A semiautomatic pistol with a fixed magazine 
                that has the capacity to accept more than 10 rounds.
                    ``(H) A semiautomatic shotgun that has--
                            ``(i) a folding or telescoping stock,
                            ``(ii) a pistol grip,
                            ``(iii) the ability to accept a detachable 
                        magazine, or
                            ``(iv) a fixed magazine capacity of more 
                        than 5 rounds.
                    ``(I) A shotgun with a revolving cylinder.
                    ``(J) A frame or receiver that is identical to, or 
                based substantially on the frame or receiver of, a 
                firearm described in any of subparagraphs (A) through 
                (I) or (L).
                    ``(K) A conversion kit.
                    ``(L) A semiautomatic rifle or shotgun originally 
                designed for military or law enforcement use, or a 
                firearm based on the design of such a firearm, that is 
                not particularly suitable for sporting purposes, as 
                determined by the Attorney General. In making the 
                determination, there shall be a rebuttable presumption 
                that a firearm procured for use by the United States 
                military or any Federal law enforcement agency is not 
                particularly suitable for sporting purposes, and a 
                firearm shall not be determined to be particularly 
                suitable for sporting purposes solely because the 
                firearm is suitable for use in a sporting event.
            ``(2) Related definitions.--
                    ``(A) Barrel shroud.--The term `barrel shroud' 
                means a shroud that is attached to, or partially or 
                completely encircles, the barrel of a firearm so that 
                the shroud protects the user of the firearm from heat 
                generated by the barrel, but does not include a slide 
                that encloses the barrel, and does not include an 
                extension of the stock along the bottom of the barrel 
                which does not encircle or substantially encircle the 
                barrel.
                    ``(B) Conversion kit.--The term `conversion kit' 
                means any part or combination of parts designed and 
                intended for use in converting a firearm into a 
                semiautomatic assault weapon, and any combination of 
                parts from which a semiautomatic assault weapon can be 
                assembled if the parts are in the possession or under 
                the control of a person.
                    ``(C) Detachable magazine.--The term `detachable 
                magazine' means an ammunition feeding device that can 
                readily be inserted into a firearm.
                    ``(D) Fixed magazine.--The term `fixed magazine' 
                means an ammunition feeding device contained in, or 
                permanently attached to, a firearm.
                    ``(E) Folding or telescoping stock.--The term 
                `folding or telescoping stock' means a stock that 
                folds, telescopes, or otherwise operates to reduce the 
                length, size, or any other dimension, or otherwise 
                enhances the concealability, of a firearm.
                    ``(F) Forward grip.--The term `forward grip' means 
                a grip located forward of the trigger that functions as 
                a pistol grip.
                    ``(G) Pistol grip.--The term `pistol grip' means a 
                grip, a thumbhole stock, or any other characteristic 
                that can function as a grip.
                    ``(H) Threaded barrel.--The term `threaded barrel' 
                means a feature or characteristic that is designed in 
                such a manner to allow for the attachment of a firearm 
                as defined in section 5845(a) of the National Firearms 
                Act (26 U.S.C. 5845(a)).
    ``(d) Termination.--This section shall not apply with respect to 
any weapon surrendered during a taxable year beginning more than 2 
years after the date of the enactment of the Support Assault Firearms 
Elimination and Reduction for our Streets Act.''.
    (b) Clerical Amendment.--The table of sections for subpart A of 
part IV of subchapter A of chapter 1 is amended by inserting before the 
item relating to section 26 the following new item:

``Sec. 25E. Assault weapon turn-in credit.''.
    (c) Effective Date.--The amendments made by this Act shall apply to 
taxable years beginning after the date of the enactment of this Act.
Support Assault Firearms Elimination and Reduction for our Streets Act   Amends the Internal Revenue Code to allow an individual taxpayer to elect a tax credit of $2,000 for surrendering a specified assault weapon, as defined by this Act, as part of a public safety program to reduce the number of privately owned weapons. Terminates such credit two years after the enactment of this Act. 
Support Assault Firearms Elimination and Reduction for our Streets Act