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AR HB1509

Bill

Status

Passed

4/3/2025

Primary Sponsor

Howard Beaty

Click for details

Origin

House of Representatives

95th General Assembly (2025 Regular)

AI Summary

  • Payment card networks are prohibited from requiring merchant category codes that distinguish firearms retailers from other retailers for transactions within Arkansas

  • Covered entities and merchants cannot assign the ISO-approved firearms-specific merchant category code 5723 to firearms retailers or purchases of firearms, accessories, and ammunition

  • Persons, government units, and governmental organizations are prohibited from knowingly keeping lists, records, or registries of privately owned firearms or their owners

  • The Attorney General enforces violations through written notice, with violators given 60 days to cease prohibited conduct before facing injunctions and civil penalties up to $10,000 per violation

  • Good faith compliance with applicable law serves as a defense, and no private right of action is created under the act

Legislative Description

To Create The Second Amendment Financial Privacy Act; And To Prohibit Financial Institutions From Using Certain Discriminatory Practices.

Last Action

Notification that HB1509 is now Act 452

4/3/2025

Committee Referrals

Insurance & Commerce3/18/2025
Insurance and Commerce2/17/2025

Full Bill Text

No bill text available