This bill bans the import, sale, transfer, and manufacture of assault firearms and large-capacity magazines in Virginia, with exceptions for law enforcement, military, and antiques. While adults may keep assault firearms they already own, anyone under 21 cannot buy, possess, or transfer these firearms at all—even if acquired before the law. Violations are misdemeanors and result in a three-year ban on firearm possession. The bill also creates rules for buy-back programs and how surrendered firearms should be handled.