From the ATF website:
Semiautomatic Assault Weapon Update
By statute, the prohibitions relating to semiautomatic assault weapons and large capacity ammunition feeding devices expired on September 13, 2004. As a result, certain sections of the Gun Control Act, 18 U.S.C. Chapter 44, and its implementing regulations, 27 CFR Part 478, are no longer in effect.
--WP
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