Fire Sale Loophole Closing Act

House Bill 4872 - Fire Sale Loophole Closing Act: Overview, Status, and Impact

Hozzl · 2022-11-01T04:32:34Z

Explore the details of House Bill 4872 Fire Sale Loophole Closing Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Crime and Law Enforcement. Stay informed on legislative developments.

11/1/2022, 4:32 AM

Congressional Summary of HR 4872

Fire Sale Loophole Closing Act

This bill imposes restrictions on the transfer of business inventory firearms by a firearms importer, manufacturer, or dealer whose license is revoked or denied.

An individual who violates the restrictions is subject to criminal penalties—a fine, prison term of up to one year (or five years if the violation was willful), or both.

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Current Status of Bill HR 4872

Bill HR 4872 is currently in the status of Bill Introduced since October 28, 2019. Bill HR 4872 was introduced during Congress 116 and was introduced to the House on October 28, 2019. Bill HR 4872's most recent activity was Referred to the Subcommittee on Crime, Terrorism, and Homeland Security. as of December 18, 2019

Bipartisan Support of Bill HR 4872

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4872

Primary Policy Focus

Crime and Law Enforcement

Potential Impact Areas

- Firearms and explosives

- Licensing and registrations

- Retail and wholesale trades

Alternate Title(s) of Bill HR 4872

Fire Sale Loophole Closing Act

To amend chapter 44 of title 18, United States Code, to restrict the ability of a person whose Federal license to import, manufacture, or deal in firearms has been revoked, whose application to renew such a license has been denied, or who has received a license revocation or renewal denial notice, to transfer business inventory firearms, and for other purposes.

Fire Sale Loophole Closing Act