The proposed bill introduces the Firearms Industry Nondiscrimination Act, which aims to prevent discrimination against firearm entities and trade associations in government contracts and by financial institutions. It establishes definitions for key terms such as "firearm," "firearm entity," and "financial institution," and outlines the application of the act to contracts between governmental entities and financial institutions entered into after the act's effective date. The bill prohibits governmental entities from contracting with financial institutions that discriminate against firearm entities or trade associations, declaring such contracts void as against public policy. An exception is made for contracts with sole-source providers.

Additionally, the bill prohibits financial institutions from discriminating against firearm entities or trade associations based on their involvement in lawful commerce related to firearms and ammunition. It provides civil remedies for individuals harmed by violations, allowing them to bring actions in court and seek damages, attorney fees, and other relief. The Attorney General is granted enforcement authority, including the ability to file civil actions and request the termination of business relationships with violating financial institutions. The bill also establishes a statute of limitations for actions and outlines exceptions for financial institutions with written non-discrimination policies.

Statutes affected:
Introduced Version: 5A-13-1, 5A-13-2, 5A-13-3, 5A-13-4, 5A-13-5, 5A-13-6