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Fire Sale Loophole Closing Act
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.
Read the Full Bill
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
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
8Democrat Cosponsors
8Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4872
Primary Policy Focus
Crime and Law EnforcementPotential 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States Code, to restrict the ability of a person whose Federal license to import, manufacture, or deal in firearms has been revoked, whose application to renew such a license has been denied, or who has received a license revocation or renewal denial notice, to transfer business inventory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
Comments
Sponsors and Cosponsors of HR 4872
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