The Ammunition Modernization and Monitoring Oversight Act establishes new federal regulations on ammunition sales to prevent bulk purchases and ammunition straw buying. The bill limits licensed ammunition dealers to selling no more than 1,000 rounds of standard ammunition (or 100 rounds of .50 caliber) to any non-licensed person within a five-day period, and requires dealers to obtain signed written certifications from buyers and conduct background checks before completing ammunition transfers. The legislation affects gun dealers and ammunition retailers, requiring them to maintain detailed purchase records for two years, post signage about the new restrictions, and report transaction forms to the Attorney General within 30 days. Penalties for violations range from fines of $50,000 to $250,000 for dealers, with license revocation possible for repeat violations, and violators making false statements face up to five years in prison. The bill authorizes up to $150 million for upgrading the national background check system and takes effect 120 days after enactment, with the Bureau of Alcohol, Tobacco, Firearms, and Explosives required to publish annual reports on violations and trends.
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