§2. Limitations on purchases of ammunition
This section requires Federal Firearms Licenses (FFLs) for ammunition dealers (i.e., persons engaged in the business of selling ammunition) and imposes the following restrictions on ammunition commerce:
(1) prohibits unlicensed persons from selling ammunition except to an FFL holder, or from engaging in the business of importing or manufacturing ammunition;
(2) requires FFL holders to verify the identity of an ammunition transferee using a valid photo identification document in the transferee's physical presence;
(3) prohibits unlicensed persons from shipping or transporting ammunition;
(4) requires FFL holders to maintain records of ammunition dispositions and to report multiple sales or dispositions of more than 1,000 rounds to any unlicensed person within any five consecutive business days; and
(5) eliminates a prior exception for armor-piercing ammunition.