Bill > HR4222

This bill aims to close a legal loophole related to firearms business inventory by implementing new restrictions on how Federal Firearms Licensees (FFLs) can transfer firearms when their license is revoked or not renewed. Specifically, the bill prohibits licensees who have been notified of license revocation or non-renewal from transferring business inventory firearms into their personal collection or to employees, and restricts their ability to transfer such firearms to other parties. The legislation defines "business inventory firearms" as those required to be recorded in a firearms business's acquisition and disposition logs. The bill also introduces penalties for violations, including fines and potential imprisonment of up to one year (or five years if the violation is willful), and requires that notices of license revocation include information about the legal restrictions on firearms transfers. The underlying intent is to provide the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) with clearer authority to regulate how firearms businesses wind down their operations and prevent potential misuse of firearms inventory during the license termination process.

Justice

https://www.congress.gov/bill/119th-congress/house-bill/4222/all-info