Tennessee House Bill HB2762

Tennessee 2023-2024 Regular Session

• Introduced: 1/31/24
• Refer: 2/5/24
• Refer: 3/12/24
• Refer: 3/19/24
• Chaptered: 5/1/24
• Passed: 5/1/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 8, Chapter 6; Title 29; Title 38; Title 39; Title 45 and Title 47, relative to merchant codes.

Impact

If enacted, HB 2762 would significantly alter how financial transactions related to firearms are processed, effectively shielding such purchases from associations that could lead to discriminatory practices against lawful gun buyers. It would make it illegal for financial entities to keep or maintain any registry of firearm owners or purchases unless required by law, thereby reinforcing the privacy rights of individuals engaging in these transactions. The bill aims to mitigate what supporters view as government overreach in surveilling constitutionally protected activities.

Summary

House Bill 2762 aims to amend several sections of the Tennessee Code, specifically relating to merchant codes for firearm and ammunition purchases. The legislation is titled the 'Second Amendment Financial Privacy Act' and seeks to prohibit financial institutions from assigning special merchant category codes that would distinguish firearms retailers from other businesses. This action is rooted in concerns that distinguishing such transactions could open the door to unwarranted surveillance and tracking of lawful firearm purchases, which supporters argue may violate privacy rights guaranteed under both state and federal constitutions. The bill reflects a strong commitment by its proponents to protect the Second Amendment rights of Tennessee residents.

Sentiment

The sentiment surrounding HB 2762 is mainly supportive among gun rights advocates who believe it underscores the importance of financial privacy and Second Amendment rights. Proponents highlight the risks of potential government surveillance of gun owners as a fundamental issue that must be addressed. Conversely, there may be concerns among critics regarding the implications of limiting financial institutions' capability to manage risk and prevent illegal activities, although these perspectives may be less prominent given the strong political backing for the bill.

Contention

Contention around the bill arises from fears that establishing specific merchant codes for firearms transactions might serve as a pathway to mass surveillance of gun purchases, thus infringing on the privacy rights as delineated by the Second Amendment. Opponents of such surveillance mechanisms worry that they could lead to the creation of lists or registries of gun owners, which the bill directly seeks to prohibit. This reflects a broader debate on the intersection of privacy, regulation, and gun ownership in the contemporary legislative climate.