The bill amends Chapter 11-47 of the General Laws by introducing a new section, 11-47-65, which prohibits individuals from purchasing or taking possession of more than one firearm within a thirty-day period. The term "firearm" is defined to include pistols, rifles, and shotguns as specified in existing law. There are several exemptions to this prohibition, including purchases by federally licensed firearm dealers, governmental entities, law enforcement officers, licensed private security companies for registered armed security guards, and transfers related to court orders or estate matters. Additionally, individuals participating in training or using firearms at licensed shooting ranges or clubs are also exempt.

Violations of this provision will result in criminal penalties. First-time offenders will be guilty of a misdemeanor, punishable by a term of imprisonment of up to one year or a fine of $500, or both. Individuals convicted of a second or subsequent offense will be guilty of a felony, with potential sentences of up to three years in prison or fines of $3,000, or both. The bill is set to take effect immediately upon passage.