The proposed bill seeks to enhance public safety in Washington State by instituting financial responsibility requirements for individuals purchasing or possessing firearms. Individuals must demonstrate financial responsibility through one of three methods: obtaining a firearm liability insurance policy or bond, qualifying as a self-insurer if they own more than 25 firearms, or providing a certificate of deposit of at least $25,000. The bill stipulates that failure to provide proof of financial responsibility when requested by a dealer or law enforcement will result in a class 1 civil infraction. Additionally, it amends existing laws to require firearm dealers to verify compliance with these financial responsibility requirements before delivering firearms.

Furthermore, the bill introduces new insurance requirements for firearm range operators, mandating a general liability insurance policy with a minimum coverage of $1,000,000 per incident, with violations classified as misdemeanors. It also establishes a "firearm financial responsibility account" to manage compliance funds and clarifies the management of the treasury income account related to state treasury investments. The act is set to take effect on January 1, 2027, with certain sections expiring on July 1, 2028, ensuring a structured timeline for the implementation of these regulations.

Statutes affected:
Original Bill: 9.41.090