The Remington Model 700 Special Purpose Synthetic Tactical is a bolt-action hunting rifle chambered in .223 Rem. and .308 Win. The Model 700 was introduced by Remington in 1962 and has since been expanded to include more than 30 sub-models. The major difference between the SPS and the other sub-models is price. The SPS costs the least of any Model 700 because it uses a synthetic stock instead of its traditional wooden design.