Assault Weapon Financing Accountability Act
This bill makes it a crime to offer or accept certain short-term loans for the purchase of specified semiautomatic assault weapons.
[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9686 Introduced in House (IH)]
<DOC>
117th CONGRESS
2d Session
H. R. 9686
To amend title 18, United States Code, to prohibit the making of short-
term, Buy Now, Pay Later loans for the purchase of semiautomatic
assault weapons.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 22, 2022
Mr. Malinowski (for himself and Mr. Larson of Connecticut) introduced
the following bill; which was referred to the Committee on the
Judiciary
_______________________________________________________________________
A BILL
To amend title 18, United States Code, to prohibit the making of short-
term, Buy Now, Pay Later loans for the purchase of semiautomatic
assault weapons.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Assault Weapon Financing
Accountability Act''.
SEC. 2. BUY NOW, PAY LATER LOANS PROHIBITED FOR SEMIAUTOMATIC ASSAULT
WEAPON SALES.
(a) Buy Now, Pay Later Loans Prohibited for Semiautomatic Assault
Weapon Sales.--Section 922 of title 18, United States Code, is amended
by adding at the end the following:
``(aa) Buy Now, Pay Later Loans for Semiautomatic Assault
Weapons.--
``(1) Loans.--It shall be unlawful for any person, in or
affecting interstate or foreign commerce, to offer a Buy Now,
Pay Later loan to an individual to purchase a semiautomatic
assault weapon.
``(2) Dealers accepting buy now, pay later loans.--It shall
be unlawful for any dealer, in or affecting interstate or
foreign commerce, to knowingly accept funds obtained by an
individual through a Buy Now, Pay Later loan for such
individual to purchase a semiautomatic assault weapon.
``(3) Buy now, pay later loan defined.--For the purposes of
this subsection, the term `Buy Now, Pay Later loan' means a
loan--
``(A) made primarily for personal, family, or
household purposes; and
``(B) payable in four or fewer installments not
including a down payment.''.
(b) Penalties Relating to Buy Now, Pay Later Loans for
Semiautomatic Weapon Sales.--Section 924 of title 18, United States
Code, is amended by adding at the end the following:
``(q) Penalties Relating to Buy Now, Pay Later Loans for
Semiautomatic Weapon Sales.--
``(1) Persons offering buy now, pay later loans.--With
respect to each violation of section 922(aa)(1) by a person,
such person shall be, after notice and opportunity for hearing,
assessed a civil penalty of $100,000 by the Attorney General.
``(2) Dealers accepting buy now, pay later loans.--With
respect to each violation of section 922(aa)(2) by a dealer,
such dealer shall be, after notice and opportunity for hearing,
assessed a civil penalty of $100,000 by the Attorney
General.''.
(c) Definitions.--Section 921(a) of title 18, United States Code,
is amended by adding at the end the following:
``(38) The term `semiautomatic pistol' means any repeating
firearm, other than a shotgun or rifle, that--
``(A) utilizes a portion of the energy of a firing
cartridge to extract the fired cartridge case and
chamber the next round; and
``(B) requires a separate pull of the trigger to
fire each cartridge.
``(39) The term `semiautomatic shotgun' means any repeating
shotgun that--
``(A) utilizes a portion of the energy of a firing
shell to extract the fired shell casing and chamber the
next round; and
``(B) requires a separate pull of the trigger to
fire each shell.
``(40) The term `semiautomatic assault weapon' means any of
the following, regardless of country of manufacture or caliber
of ammunition accepted:
``(A) A semiautomatic rifle that has the capacity
to accept a detachable ammunition feeding device and
any one of the following:
``(i) A pistol grip.
``(ii) A forward grip.
``(iii) A folding or detachable stock, or
stock that is otherwise foldable or adjustable
in a manner that operates to reduce the length,
size, or any other dimension, or otherwise
enhances the concealability of the weapon.
``(iv) A functional grenade launcher.
``(v) A barrel shroud.
``(vi) A threaded barrel.
``(B) A semiautomatic rifle that has a fixed
ammunition feeding device with the capacity to accept
more than 10 rounds, except for an attached tubular
device designed to accept, and is capable of operating
with, .22 caliber rimfire ammunition.
``(C) Any part, combination of parts, component,
device, attachment, or accessory that is designed and
functions to accelerate the rate of fire of a
semiautomatic rifle but not convert the semiautomatic
rifle into a machinegun.
``(D) A semiautomatic pistol that has the capacity
to accept a detachable ammunition feeding device and
any one of the following:
``(i) A threaded barrel.
``(ii) A second pistol grip.
``(iii) A barrel shroud.
``(iv) The capacity to accept a detachable
ammunition feeding device at some location
outside of the pistol grip.
``(v) A semiautomatic version of an
automatic firearm.
``(vi) A manufactured weight of 50 ounces
or more when unloaded.
``(vii) A buffer tube, arm brace, or other
part that protrudes horizontally behind the
pistol grip.
``(E) A semiautomatic pistol with a fixed
ammunition feeding device that has the capacity to
accept more than 10 rounds.
``(F) A semiautomatic shotgun that has any one of
the following:
``(i) A folding or detachable stock.
``(ii) A pistol grip.
``(iii) A fixed ammunition feeding device
with the capacity to accept more than 5 rounds.
``(iv) The ability to accept a detachable
ammunition feeding device.
``(v) A forward grip.
``(vi) A functional grenade launcher.
``(G) Any shotgun with a revolving cylinder.
``(H) Any belt-fed semiautomatic firearm.
``(I) Any combination of parts from which a firearm
described in subparagraph (A), (B), (C), (D), (E), (F),
(G), or (H) can be assembled.
``(J) The frame or receiver of a rifle or shotgun
described in subparagraph (A), (B), (C), (F), (G), or
(H).
``(41) The term `barrel shroud'--
``(A) means a shroud that is attached to, or
partially or completely encircles, the barrel of a
firearm so that the shroud protects the user of the
firearm from heat generated by the barrel; and
``(B) does not include--
``(i) a slide that partially or completely
encloses the barrel; or
``(ii) an extension of the stock along the
bottom of the barrel which does not encircle or
substantially encircle the barrel.
``(42) The term `detachable ammunition feeding device'
means an ammunition feeding device that can be removed from a
firearm without disassembly of the firearm.
``(43) The term `fixed ammunition feeding device' means an
ammunition device that is permanently fixed to the firearm in
such a manner that it cannot be removed without disassembly of
the firearm.
``(44) The term `folding or detachable stock' means a stock
that folds, detaches or otherwise operates to reduce the
length, size, or any other dimension, or otherwise enhances the
concealability, of the firearm.
``(45) The term `forward grip' means a grip located forward
of the trigger that functions as a pistol grip.
``(46) The term `grenade launcher' means an attachment for
use on a firearm that is designed to propel a grenade or other
similar destructive device.
``(47) The term `pistol grip' means a grip, a thumbhole
stock or Thordsen-type grip or stock, or any other
characteristic that can function as a grip.
``(48) The term `threaded barrel' means a feature or
characteristic that is designed in such a manner to allow for
the attachment of a device as a firearm silencer or a flash
suppressor.
``(49) The term `belt-fed semiautomatic firearm' means any
repeating firearm that--
``(A) utilizes a portion of the energy of a firing
cartridge to extract the fired cartridge case and
chamber the next round;
``(B) requires a separate pull of the trigger to
fire each cartridge; and
``(C) has the capacity to accept a belt ammunition
feeding device.''.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on the Judiciary.
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