Sec. 1. (a) Sections 2 through 5 of this chapter do not apply to the following:
(1) Transactions between persons who are licensed as firearms importers or collectors or firearms manufacturers or dealers under 18 U.S.C. 923.
(2) Purchases by or sales to a law enforcement officer or agent of the United States, the state, or a county or local government.
(3) Indiana residents in possession of a license described in IC 35-47-2-3.
(b) Notwithstanding any other provision of this chapter, the state shall participate in the NICS if federal funds are available to assist the state in participating in the NICS. If:
(1) the state participates in the NICS; and
(2) there is a conflict between:
(A) a provision of this chapter; and
(B) a procedure required under the NICS;
the procedure required under the NICS prevails over the conflicting provision of this chapter.