(a) Registration- Subject to such regulations as the Attorney General may prescribe, the applicable veteran or a member of such a veteran's family, who owns and possesses a qualifying firearm, may register such firearm in the National Firearms Registration and Transfer Record (described in section 5841 of the Internal Revenue Code of 1986) during the amnesty period.
"a qualifying firearm," = an NFA item, which is already required to be registered under penalty of ten years in prison and a fine of $250,00.
The section 922.(o) amendment to FOPA-86 closed off all opportunity for such arms to be registered without a new "amnesty" being declared.
This bill creates that amnesty opportunity, but only for qualified veterans.
But that registry has existed since 1937, so this bill does not create it. It allows existing guns to be added to the registry, in lieu of letting the BATFE come in and stomp the kittens of their owners. Of course BAFTE has been known to come in shooting when the subject is machine guns. This law would help to keep that from happening to these veterans and their heirs.