Semiautomatic Assault Weapons Act of 1989

Semiautomatic Assault Weapons Act of 1989 - Amends the Federal criminal code to prohibit the transfer or possession of a semiautomatic assault weapon (SAW) or ammunition feeding device, unless such weapon or device was lawfully possessed before the date this Act takes effect.

Defines "semiautomatic assault weapon" to include: (1) any Kalashnikov, Uzi, or Colt AR-15 type semiautomatic firearm; (2) any semiautomatic weapon fed by an ammunition belt or feed strip; (3) any semiautomatic shotgun with a magazine, cylinder, or drum capacity exceeding six rounds of ammunition; and (4) any weapon designated as such by the Secretary of the Treasury. Specifies weapons not falling within such definition.

Defines "ammunition feeding device" to include a detachable device which has a capacity of, or can be converted to accept, more than ten rounds of ammunition and which meets certain specifications.

Requires the Secretary: (1) to compile and publish a list of weapons designated by the Secretary as SAWs; and (2) to periodically modify such list. Establishes guidelines in determining whether to designate a weapon as a SAW.

Provides: (1) that the Secretary shall not be required to authorize the importation of SAWs; and (2) for enhanced penalties for possession or use of a SAW during a crime of violence or drug trafficking crime.

Amends the Internal Revenue Code to apply firearms taxes and registration requirements to SAWs.