summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
113th Congress
Bill Summary
Fire Sale Loophole Closing Act - Amends the federal criminal code to make it unlawful for: (1) anyone whose federal license to import, manufacture, or deal in firearms has been revoked, or whose license renewal application has been denied, to transfer business inventory firearms into a personal collection or to an employee of such person or to receive a firearm that was a business inventory firearm as of the date of a revocation or renewal denial notice; and (2) anyone who has received a license revocation or renewal denial notice to transfer to any other person a firearm that was a business inventory firearm. Imposes a fine and/or prison term of not more than one year (five years for willful violations) for violations of this Act.
AI Summary
This bill, titled the Fire Sale Loophole Closing Act, amends federal law to prevent individuals or businesses whose federal firearms licenses have been revoked or whose license renewal applications have been denied from improperly transferring their business inventory firearms. Specifically, it makes it illegal for such individuals to move firearms that were part of their business stock into their personal collections or give them to employees, and also prohibits them from receiving any firearm that was business inventory at the time they received notice of their license revocation or denial. Furthermore, the bill prevents anyone who has received such a notice from transferring any business inventory firearm to anyone else, with exceptions for other licensed dealers or law enforcement agencies. A "business inventory firearm" is defined as any firearm that a firearms business is legally required to log in its acquisition and disposition records. Violations of these provisions can result in fines and imprisonment, with a maximum of one year for general violations and up to five years for willful violations.
Committee Categories
Justice, Military Affairs and Security
Sponsors (69)
David Cicilline (D)*,
Timothy Bishop (D),
Earl Blumenauer (D),
Suzanne Bonamici (D),
Robert Brady (D),
Julia Brownley (D),
Lois Capps (D),
Michael Capuano (D),
Matt Cartwright (D),
Kathy Castor (D),
Judy Chu (D),
Katherine Clark (D),
Lacy Clay (D),
Steve Cohen (D),
Diana DeGette (D),
Rosa DeLauro (D),
Theodore Deutch (D),
Michael Doyle (D),
Donna Edwards (D),
Keith Ellison (D),
Elizabeth Esty (D),
Sam Farr (D),
Marcia Fudge (D),
John Garamendi (D),
Raúl Grijalva (D),
Luis Gutiérrez (D),
Janice Hahn (D),
Alcee Hastings (D),
Jim Himes (D),
Rush Holt (D),
Steve Israel (D),
Bill Keating (D),
James Langevin (D),
Rick Larsen (D),
Barbara Lee (D),
Daniel Lipinski (D),
Zoe Lofgren (D),
Alan Lowenthal (D),
Stephen Lynch (D),
Ed Markey (D),
Doris Matsui (D),
Betty McCollum (D),
Jim McGovern (D),
Gregory Meeks (D),
Gwen Moore (D),
James Moran (D),
Jerry Nadler (D),
Grace Napolitano (D),
Eleanor Holmes Norton (D),
Bill Pascrell (D),
Scott Peters (D),
Mark Pocan (D),
David Price (D),
Charles Rangel (D),
Lucille Roybal-Allard (D),
John Sarbanes (D),
Jan Schakowsky (D),
Adam Schiff (D),
Allyson Schwartz (D),
José Serrano (D),
Carol Shea-Porter (D),
Louise Slaughter (D),
Jackie Speier (D),
John Tierney (D),
Niki Tsongas (D),
Chris Van Hollen (D),
Juan Vargas (D),
Henry Waxman (D),
Frederica Wilson (D),
Last Action
Referred to the Subcommittee on Crime, Terrorism, Homeland Security, And Investigations. (on 01/25/2013)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location | Created |
|---|---|---|
| Bill | https://www.congress.gov/bill/113th-congress/house-bill/93/all-info | 03/06/2013 |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-113hr93ih/pdf/BILLS-113hr93ih.pdf.pdf | 01/28/2013 |
Loading...