1. Short title This Act may be cited as the Assault Weapons Excise Act . 2. Imposition of additional excise tax on large capacity ammunition feeding devices and semiautomatic assault weapons (a) In general Section 4181 of the Internal Revenue Code of 1986 is amended— (1) by striking There is hereby and inserting the following: (a) In general There is hereby , and (2) by adding at the end the following new subsection: (b) Additional tax on large capacity ammunition feeding devices and semiautomatic assault weapons (1) In general In addition to the tax imposed by subsection (a), there is hereby imposed upon the sale by the manufacturer, producer, or importer of any of the following articles a tax equivalent to 1,000 percent of the price for which so sold: (A) Large capacity ammunition feeding devices. (B) Semiautomatic assault weapons. (2) Large capacity ammunition feeding device For purposes of this subsection— (A) In general The term large capacity ammunition feeding device means a magazine, belt, drum, feed strip, or similar device, including any such device joined or coupled with another in any manner, that has an overall capacity of, or that can be readily restored, changed, or converted to accept, more than 10 rounds of ammunition. (B) Certain devices not included Such term does not include an attached tubular device designed to accept, and capable of operating only with, .22 caliber rimfire ammunition. (3) Semiautomatic assault weapon For purposes of this subsection— (A) In general The term semiautomatic assault weapon means any of the following: (i) A semiautomatic rifle that— (I) has the capacity to use a magazine that is not a fixed magazine, and (II) has any of the following: (aa) A pistol grip. (bb) A forward grip. (cc) A folding, telescoping, or detachable stock, or the ability to otherwise fold or adjust in a manner that operates to reduce the length, size, or any other dimension, or otherwise enhance the concealability, of such rifle. (dd) A functional grenade launcher. (ee) A barrel shroud. (ff) A