Relating to assault weapons; declaring an emergency.

Requires person who owns assault weapon on effective date of Act to register assault weapon or take other specified action within one year of effective date of Act. Defines terms. Punishes violation by maximum of $2,000 fine, or by maximum of six months' imprisonment, $2,500 fine, or both, for second and subsequent convictions. Prohibits manufacture, transfer or possession of assault weapon except in specified circumstances. Punishes by maximum of 364 days' imprisonment, $6,250 fine, or both. Requires report of loss or theft of assault weapon. Punishes failure to report by maximum of 364 days' imprisonment, $6,250 fine, or both. Provides that information in report may not be used in prosecution for possession or transfer of assault weapon. Declares emergency, effective on passage.