A bill to amend the National Firearms Act to exempt certain unserviceable machine-guns from the registration requirements of that act.

States that the term firearm under the National Firearms Act shall not include a machinegun which the Secretary of the Treasury or his delegate finds has special value as a collector's item or museum piece and finds is incapable of discharging a shot by means of an explosive and incapable of being readily restored to a firing condition. (Amends 26 U.S.C. 5845)