CO HB1292

Prohibits manufacture, import, purchase, sale, or transfer of assault weapons in Colorado, with exemptions for armed forces, peace officers, licensed dealers selling inventory by August 1, 2024 to out-of-state residents, and other specified entities.

Defines "assault weapon" to include semiautomatic rifles with detachable magazines and certain features (pistol grip, folding stock, muzzle brake, etc.), specific rifle models (AK and AR types), semiautomatic pistols with detachable magazines and tactical features, shotguns with certain characteristics, and .50 caliber rifles.

Prohibits possession of rapid-fire trigger activators that increase the firing rate of semiautomatic firearms, with exemptions for military, law enforcement, and licensed dealers with remaining inventory as of August 1, 2024.

Establishes effective dates of July 1, 2024 for individual transfers and August 1, 2024 for dealer inventory restrictions; individuals may transfer weapons to heirs or licensed dealers who must render them inoperable within 90 days.

Imposes civil penalties of $750 on individuals making private sales in violation starting July 1, 2025, and requires reporting of licensed dealers and manufacturers to the Department of Revenue for appropriate enforcement actions.