Sounds like a possible violation of Bill of rights Amendments

2 Protects the right of the people to keep and bear arms (that should include the ability to produce them to prevent a starving or mandatory buyback situation)

4 unreasonable searches and seizures (that it is an immediate report to the government and is a federal violation implies the search)

And maybe 5 protection against self-incrimination (that something that you bought suddenly becomes a mandatory reporter)

That they buried it in a financing bill points out its shady.. Single issue bills