This bill establishes restrictions on the manufacture, sale, purchase, and possession of assault weapons. It defines an assault weapon and includes definitions for related terms. The bill prohibits the manufacture, sale, purchase, possession, and control of assault weapons, with exceptions for individuals who lawfully possessed an assault weapon before the effective date of the bill and register it with the police department or render it permanently inoperable. Law enforcement officers are also exempt. Violation of the prohibition can result in imprisonment and fines, and the assault weapon may be subject to forfeiture.

The bill also amends current law regarding the possession and registration of assault weapons. It allows certain individuals, such as qualified law enforcement officers and active duty members of the Armed Forces, to possess and carry assault weapons. Federally licensed firearms dealers are also allowed to possess and sell assault weapons to certain individuals. The bill establishes a process for the registration of assault weapons, requiring owners to register their weapons within one year. Owners must complete a registration statement, submit to a criminal background check, and pay a registration fee. The bill outlines the process for submitting the registration statement and provides for the issuance of a certificate of possession.