Bill > S3100

This bill, the "Fire Sale Loophole Closing Act of 2023," aims to amend Chapter 44 of Title 18 of the United States Code to restrict the ability of Federal Firearms Licensees (FFLs) to transfer their business inventory firearms when their license is revoked, denied renewal, or expires. The bill prohibits FFLs from transferring their business inventory firearms to their personal collection or to their employees, and requires them to transfer these firearms to other licensed dealers or law enforcement agencies within a specific timeframe. The bill also imposes penalties for violating these restrictions, including fines and imprisonment. Additionally, the bill requires the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) to include the relevant statutory and regulatory provisions in its written notice to the FFL regarding the license revocation or denial.

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https://www.congress.gov/bill/118th-congress/senate-bill/3100/all-info