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Fire Sale Loophole Closing Act
12/29/2022, 1:03 PM
Congressional Summary of S 4812
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 S 4812
Bill S 4812 is currently in the status of Bill Introduced since September 8, 2022. Bill S 4812 was introduced during Congress 117 and was introduced to the Senate on September 8, 2022. Bill S 4812's most recent activity was Read twice and referred to the Committee on the Judiciary. as of September 8, 2022
Bipartisan Support of Bill S 4812
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 4812
Primary Policy Focus
Crime and Law EnforcementAlternate Title(s) of Bill S 4812
Fire Sale Loophole Closing Act
Fire Sale Loophole Closing Act
A bill 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States Code, to restrict the ability of a person whose Federal license to import, manufacture, or deal in firearms has been revoked, whose application to renew such a license has been denied, or who has received a license revocation or renewal denial notice, to transfer business inventory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.
Comments
Sponsors and Cosponsors of S 4812
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