Bill > HR4064

This bill modifies the U.S. Bankruptcy Code to provide additional protections for gun owners during bankruptcy proceedings. Specifically, the bill allows individuals filing for bankruptcy to exempt firearms from their bankruptcy estate, with a maximum protection of $3,000 in total value for a single firearm or multiple firearms. This means that when someone is going through bankruptcy, they can keep firearms worth up to $3,000, preventing these weapons from being seized or sold to pay off creditors. The amendments are made to Section 522 of Title 11 of the United States Code, which governs bankruptcy exemptions. The bill will apply only to bankruptcy cases filed on or after the date of its enactment, ensuring that the new protections are prospective in nature. By providing this exemption, the bill aims to help individuals maintain possession of their firearms during financial hardship, recognizing the potential importance of firearms for personal protection, hunting, or other lawful purposes.

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https://www.congress.gov/bill/119th-congress/house-bill/4064/all-info