The proposed bill, if enacted, would introduce several significant updates to current statutes regarding firearms transactions and privacy. It would establish the "Second Amendment Financial Privacy Act," which would explicitly prohibit government entities from maintaining any records or registries of privately owned firearms or their owners, except in cases related to criminal investigations or as required by law. Additionally, the bill would prevent payment card networks from using merchant category codes that distinguish firearm retailers from other retailers, thereby ensuring that such retailers are treated the same as other businesses in financial transactions.

Furthermore, the bill would grant exclusive enforcement authority to the Attorney General or county attorneys, requiring them to investigate any alleged violations and take action if necessary. This includes providing written notice to violators and the potential for civil penalties of up to $1,000 for non-compliance with injunctions. The bill also defines key terms related to firearms and transactions, such as "ammunition," "firearm retailer," and "merchant category code," while making conforming changes to existing statutes. Overall, these updates aim to enhance the privacy of firearm owners and regulate how financial transactions related to firearms are processed.

Statutes affected:
Introduced Version: 44-7851, 44-7853