To amend title 18, United States Code, to prohibit the possession or transfer of assault weapons.

Amends the Federal criminal code to prohibit the possession (except for lawful and continuous possession since before the enactment date) or transfer of assault weapons. Exempts any firearm which the Secretary of the Treasury has determined is of a type generally recognized as particularly suitable for, or readily adaptable to, sporting purposes.

Provides for: (1) penalties for the unlawful possession or transfer of an assault weapon; and (2) an enhanced penalty for possession or use of an assault weapon during a crime of violence or a drug trafficking crime.