I 
118TH CONGRESS 
1ST SESSION H. R. 4289 
To amend title 18, United States Code, to prohibit short-term, Buy Now, 
Pay Later loans for the purchase of semiautomatic assault weapons. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 22, 2023 
Mr. LARSON of Connecticut (for himself, Mr. SWALWELL, Ms. NORTON, Mr. 
EVANS, Mr. NEGUSE, Ms. PETTERSEN, Ms. LEE of California, Ms. WIL-
LIAMS of Georgia, Mr. BLUMENAUER, Mrs. NAPOLITANO, Mr. LYNCH, 
Mr. PASCRELL, Ms. GARCIA of Texas, Mr. DOGGETT, Ms. MOORE of Wis-
consin, Mr. LANDSMAN, Mr. KHANNA, Mr. GRIJALVA, Ms. PORTER, Mr. 
MOSKOWITZ, Mr. MCGOVERN, and Mr. RASKIN) introduced the following 
bill; which was referred to the Committee on the Judiciary 
A BILL 
To amend title 18, United States Code, to prohibit short- 
term, Buy Now, Pay Later loans for the purchase of 
semiautomatic assault weapons. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Assault Weapon Fi-
nancing Accountability Act’’. 
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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 SEMIAUTO-
MATIC ASSAULT WEAPONS.— 
‘‘(1) LOANS.—It shall be unlawful for any per-
son, in or affecting interstate or foreign commerce, 
to make 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, 
manufacturer, or importer, in or affecting interstate 
or foreign commerce, knowingly to accept funds ob-
tained by an individual not licensed under this chap-
ter through a Buy Now, Pay Later loan for such in-
dividual to purchase a semiautomatic assault weap-
on. 
‘‘(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 
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‘‘(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) 
ACCEPTING
BUY
NOW, 
PAY
LATER 
LOANS.—With respect to each violation of section 
922(aa)(2) by a dealer, manufacturer, or importer, 
such dealer, manufacturer, or importer 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 fol-
lowing: 
‘‘(38) The term ‘semiautomatic pistol’ means any re-
peating firearm, other than a shotgun or rifle, that— 
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‘‘(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 manu-
facture or caliber of ammunition accepted: 
‘‘(A) A semiautomatic rifle that has the capac-
ity 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 en-
hances the concealability of the weapon. 
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‘‘(iv) A functional grenade launcher. 
‘‘(v) A barrel shroud. 
‘‘(vi) A threaded barrel. 
‘‘(B) A semiautomatic rifle that has a fixed am-
munition feeding device with the capacity to accept 
more than 10 rounds, except for an attached tubular 
device designed to accept, and is capable of oper-
ating with, .22 caliber rimfire ammunition. 
‘‘(C) Any part, combination of parts, compo-
nent, device, attachment, or accessory that is de-
signed and functions to accelerate the rate of fire of 
a semiautomatic rifle but not convert the semiauto-
matic rifle into a machinegun. 
‘‘(D) A semiautomatic pistol that has the ca-
pacity 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 out-
side of the pistol grip. 
‘‘(v) A semiautomatic version of an auto-
matic firearm. 
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‘‘(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 pis-
tol grip. 
‘‘(E) A semiautomatic pistol with a fixed am-
munition feeding device that has the capacity to ac-
cept 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. 
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‘‘(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 fire-
arm so that the shroud protects the user of the fire-
arm from heat generated by the barrel; and 
‘‘(B) does not include— 
‘‘(i) a slide that partially or completely en-
closes 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 de-
vice’ means an ammunition feeding device that can be re-
moved 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 re-
duce the length, size, or any other dimension, or otherwise 
enhances the concealability, of the firearm. 
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‘‘(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 attach-
ment 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 thumb-
hole 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 ammuni-
tion feeding device.’’. 
Æ 
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