Requires a person to be in possession of an assault weapon license in order to possess, manufacture, transport, purchase, acquire, transfer, deliver, import, sell, or offer to sell an assault weapon or large capacity magazine.

Requires the chief of police of a municipality or the sheriff of a county, within thirty days after the filing of an application of a resident of this state, to issue an assault weapon license for a period of one year from the date of issue.

Prohibits a resident of a state other than this state from purchasing an assault weapon or a large capacity magazine in this state.