HB1074: Firearms financial transactions.

Legislative Summary

Firearms financial transactions. Amends the Indiana Code chapter concerning the privacy of firearms financial transactions as follows: (1) Amends the definition of "firearm" to specify that a firearm component includes castings and products used in designing, manufacturing, assembling, or fabricating firearms or firearm components. (2) Prohibits a financial services provider from: (A) refusing to provide to a firearms retailer; (B) terminating an existing business relationship to provide to a firearms retailer; or (C) offering or providing on less favorable terms and conditions to a firearms retailer; any service to facilitate or process payment card transactions, solely on the basis of the firearms retailer's status as a firearms retailer. (3) Provides an exemption from these prohibitions if a prohibited action is taken: (A) to comply with federal or state law or a court order; or (B) at the request of a law enforcement agency in connection with an active criminal investigation.