The Second Amendment Financial Privacy Act aims to protect the privacy of firearm owners and transactions involving firearms by prohibiting governmental agencies from maintaining lists or registries of privately owned firearms or their owners. The bill also restricts financial institutions from using firearms codes to distinguish firearm retailers from other merchants in payment card transactions, thereby preventing them from declining transactions based solely on these codes. Exceptions are made for compliance with state or federal laws, customer requests, and fraud or credit controls.

Additionally, the bill establishes civil remedies for violations, allowing the Attorney General to investigate and enforce compliance. If a violation is found, the Attorney General can issue a notice, and if the violation is not resolved within 60 days, legal action can be taken to seek an injunction and impose civil fines. The act will take effect on October 1, 2024. Key insertions include definitions of terms related to firearms and financial transactions, while the act deletes any provisions that would allow for the maintenance of firearm registries by governmental entities.

Statutes affected:
Engrossed: 5-17-1
Enrolled: 5-17-1