Creates the Second Amendment Financial Privacy Act

The act prohibits financial institutions from requiring firearms retailers in this state to use a firearms merchant category code in a manner that distinguishes a firearms retailer from a general merchandise retailer or a sporting goods retailer. Furthermore, financial institutions shall not discriminate against a firearms retailer by declining a lawful payment card transaction based solely on the assignment or nonassignment of a firearms merchant category code, with certain exceptions listed in the act.

Financial institutions are prohibited from disclosing a financial record, including protected financial information, that was collected in violation of this act unless the disclosure of the financial record or protected financial information was based on a good-faith conclusion that the entity's action was required by applicable law or regulation.

The Attorney General (AG) is given authority to investigate violations of this act. A firearms retailer physically located in this state whose business was the subject of an alleged violation of this act or a customer who transacted at a firearms retailer physically located in this state whose business was the subject of an alleged violation of this act, may petition the attorney general to investigate an alleged violation of this act.

Upon finding a violation the AG shall provide written notice to the individual or entity found to be in violation, and such individual or entity shall be given 30 calendar days to cease violation. Any individual or entity failing to cease violation of this act may be subject to an action in circuit court brought by the AG. The AG may seek an injunction and, if the individual or entity knowingly and willfully failed to comply with the injunction, the AG may, upon petition to the circuit court, recover a civil penalty in an amount not to exceed $10,000 for each violation. The AG may also recover investigative costs and reasonable attorney's fees.

It is an affirmative defense to a proceeding initiated pursuant to this act that the firearms merchant category code was required to be used based on a good-faith conclusion that the entity's disclosure or action was required by applicable law or regulation.

This act is identical to SB 216 (2025). SCOTT SVAGERA