; and (5) in paragraph (6)— (A) by inserting , armor piercing ammunition, or a large capacity ammunition magazine after firearm the first place it appears; and (B) by striking the firearm and inserting a firearm . (b) Transfers between persons who are not licensed importers, licensed manufacturers, or licensed dealers (1) Prohibition Section 922 of such title is amended by adding at the end the following: (aa) It shall be unlawful for a person who is not a licensed importer, licensed manufacturer, or licensed dealer, in or affecting interstate or foreign commerce, to transfer to another person not so licensed a semiautomatic firearm, a silencer, armor piercing ammunition, or a large capacity ammunition magazine, unless at least 7 business days (meaning a day on which State offices are open) have elapsed since the transferee most recently offered or agreed to acquire the semiautomatic firearm, silencer, ammunition, or magazine, as the case may be, from the transferor. . (2) Penalties Section 924(a)(5) of such title is amended by striking or (t) and inserting , (t), or (aa) . (c) Definitions Section 921(a) of such title is amended by inserting after paragraph (29) the following: (30) The term semiautomatic firearm means any repeating firearm which utilizes a portion of the energy of a firing cartridge to extract the fired cartridge case and chamber the next round, and which requires a separate pull of the trigger to fire each cartridge. (31) The term large capacity ammunition magazine means a magazine, belt, drum, feed strip, or similar device that has a capacity of, or that can be readily restored or converted to accept, more than 10 rounds of ammunition. . (d) Effective date The amendments made by this section shall apply to conduct engaged in after the 30-day period that begins with the date of the enactment of this Act.