KY HB116

Defines and regulates "assault weapons" (certain semiautomatic rifles, shotguns, and pistols with specific features) and "large capacity ammunition feeding devices" (magazines holding more than 7 rounds), requiring state licensure and registration through Kentucky State Police with licenses valid for up to 5 years

Requires universal background checks for all firearm sales, exchanges, or transfers (except between immediate family members), with dealers permitted to charge up to $10 per transaction, and mandates reporting of lost or stolen firearms within 24 hours

Mandates safe storage of firearms in locked containers or with gun-locking devices when not in immediate possession, and requires handgun possession licenses for persons 21 or older (or honorably discharged military)

Authorizes courts to order firearm surrender in protective order cases, insanity acquittals, and felony/capital offense convictions where substantial risk of unlawful firearm use exists, with weapons held by sheriff until prohibition lifted

Extends weapons prohibition to postsecondary education facilities, creates new Class D felony for criminal purchase/transfer of weapons to prohibited persons, and repeals KRS 65.870 (which prohibited local firearms control ordinances)