The Ammunition Modernization and Monitoring Oversight Act (AMMO Act) imposes new federal restrictions on ammunition sales and creates recordkeeping requirements for gun dealers. The bill limits ammunition purchases to 1,000 rounds of most calibers or 100 rounds of .50 caliber ammunition per person within any five-day period, requires background checks for ammunition purchases from licensed dealers, and prohibits false statements when buying ammunition. Licensed ammunition dealers must maintain records of sales, report transactions to the federal government within 30 days, and post signage about these new restrictions. Violations carry significant penalties, including fines ranging from $10,000 to $250,000 and potential license revocation for repeat offenses. The bill also authorizes up to $150 million to upgrade the national background check system to handle ammunition transactions. The law takes effect 120 days after enactment, with the federal government required to annually report violations and sales data to Congress and the public.
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