This bill targets the illegal importation and trafficking of machinegun conversion devices—parts or combinations of parts that can turn regular firearms into fully automatic weapons. Right now, these devices are slipping into the country and being used in crimes, but there's no coordinated federal strategy to stop them. The bill requires the Attorney General, Secretary of Homeland Security, and Secretary of the Treasury to work together within 120 days to create and implement a plan to detect, intercept, and seize these devices at ports of entry and within the country. The strategy also focuses on improving coordination between federal agencies (like ATF, FBI, and Customs) and state and local police so they can identify and trace these devices when they're recovered from crime scenes. The bill also addresses domestically produced conversion devices, including those made with 3D printing technology, which has become an emerging concern. Additionally, the bill expands asset forfeiture laws so that proceeds from illegal machinegun trafficking can be seized, and it requires the Attorney General to start tracking machinegun conversion devices in annual firearms trafficking reports so Congress and the public can see how widespread the problem is.