The bill, known as the Second Amendment Financial Privacy Act, aims to protect the privacy of firearm owners and ensure that financial transactions related to firearms are not unjustly impeded by financial institutions. It defines terms such as "ammunition," "firearm," "firearm retailer," and "financial institution," among others. The act prohibits governmental entities from maintaining lists or registries of privately owned firearms or their owners, except as part of a criminal investigation or as required by law. It also restricts the use of firearms codes by payment card networks and financial institutions in a way that would single out firearm retailers or transactions involving firearms, with certain exceptions for compliance with laws, customer requests, fraud controls, and other specified reasons.

The bill outlines the enforcement mechanism, granting the Attorney General the authority to investigate allegations of violations and to take action against entities that do not cease prohibited activities after being notified. Entities that fail to comply with an injunction may face civil fines. The Attorney General has exclusive authority to enforce the act, and the remedies provided are exclusive for any violation of the act. The bill is set to become effective on October 1, 2024. There are no specific insertions or deletions from current law indicated in the provided text.

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