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“(4) SUSPENSION OF LICENSE.—
“(A) IN GENERAL.—A license issued under this subsection to an individual who is under indictment for a crime punishable by imprisonment for a term exceeding 1 year is hereby suspended.
“(B) AUTHORIZED FOR LACK OF FIREARM INSURANCE.—The Attorney General may suspend a license issued under this subsection to an individual who has violated section 922(dd) in the most recent 12-month period.
“(5) REVOCATION OF LICENSE.—A license issued under this subsection to an individual who is or becomes prohibited by Federal or State law from possessing a firearm is hereby revoked. Such an individual shall immediately return the license, and surrender all firearms and ammunition owned or possessed by the individual, to the Attorney General.
“(6) EXPIRATION OF LICENSE.—A license issued to an individual under this subsection shall expire—
“(A) in the case of a license that has been in effect for less than 5 years, 1 year after issuance or renewal, as the case may be; or
“(B) in the case of a license that has been in effect for at least 5 years, 3 years after the most recent date the license is renewed.
“(7) RENEWAL OF LICENSE.—The Attorney General shall renew a license issued to an individual under this subsection if the individual—
“(A) requests the renewal by the end of the 60-day period that begins with the date the license expires;
“(B) in the 3-year period ending with the date the renewal is requested—
“(i) has met the requirement of paragraph (1)(A)(ii)(II); and
“(ii) has successfully completed a training course, certified by the Attorney General, in the use, safety, and storage of firearms, that includes at least 8 hours of training;
“(C) meets the requirement of paragraph (1)(A)(iii); and
“(D) in the case of a license issued under paragraph (1)(C), in the 2-year period ending with the date the renewal is requested, has successfully completed a training course, certified by the Attorney General, that includes at least 8 hours of training in the use of the weapon subject to the license.
“(d) Firearm insurance.—
“(1) IN GENERAL.—The Attorney General shall issue to any person who has applied for a license pursuant to subsection (c) and has paid to the Attorney General the fee specified in paragraph (2) of this subsection a policy that insures the person against liability for losses and damages resulting from the use of any firearm by the person during the 1-year period that begins with the date the policy is issued.
“(2) FEE.—The fee specified in this paragraph is $800.”.
(2) MILITARY-STYLE WEAPON DEFINED.—Section 921(a) of such title is amended by inserting after paragraph (29) the following:
“(30) The term ‘military-style weapon’ means—
“(A) any of the firearms, or copies or duplicates of the firearms in any caliber, known as—
“(i) Norinco, Mitchell, and Poly Technologies Avtomat Kalashnikovs (all models);
“(ii) Action Arms Israeli Military Industries UZI and Galil;
“(iii) Beretta Ar70 (SC–70);
“(iv) Colt AR–15;
“(v) Fabrique National FN/FAL, FN/LAR, and FNC;
“(vi) SWD M–10, M–11, M–11/9, and M–12;
“(vii) Steyr AUG;
“(viii) INTRATEC TEC–9, TEC–DC9 and TEC–22; and
“(ix) revolving cylinder shotguns, such as (or similar to) the Street Sweeper and Striker 12;
“(B) a semiautomatic rifle that has an ability to accept a detachable magazine and has at least 2 of—
“(i) a folding or telescoping stock;
“(ii) a pistol grip that protrudes conspicuously beneath the action of the weapon;
“(iii) a bayonet mount;
“(iv) a flash suppressor or threaded barrel designed to accommodate a flash suppressor; and
“(v) a grenade launcher;
“(C) a semiautomatic pistol that has an ability to accept a detachable magazine and has at least 2 of—
“(i) an ammunition magazine that attaches to the pistol outside of the pistol grip;
“(ii) a threaded barrel capable of accepting a barrel extender, flash suppressor, forward handgrip, or silencer;
“(iii) a shroud that is attached to, or partially or completely encircles, the barrel and that permits the shooter to hold the firearm with the nontrigger hand without being burned;
“(iv) a manufactured weight of 50 ounces or more when the pistol is unloaded; and
“(v) a semiautomatic version of an automatic firearm; and
“(D) a semiautomatic shotgun that has at least 2 of—
“(i) a folding or telescoping stock;
“(ii) a pistol grip that protrudes conspicuously beneath the action of the weapon;
“(iii) a fixed magazine capacity in excess of 5 rounds; and
“(iv) an ability to accept a detachable magazine.”.