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H.R. 263: 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States Code, to restrict the ability of a person whose Federal license to import, manufacture, or deal in firearms has been revoked, whose application to renew such a license has been denied, or who has received a license revocation or renewal denial notice, to transfer business inventory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.
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Introduced : Wed, Jan 12, 2011
Sponsor : Rep. Ackerman, Gary L. (NY-5th [D])
Status : introduced Wed, Jan 12, 2011

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Co-Sponsors
Member of the congressJoined date
Rep. Moore, Gwendolynne S. (WI-4th [D]) Wed, Jan 19, 2011
Rep. Markey, Edward J. (MA-7th [D]) Wed, Jan 19, 2011
Rep. Filner, Bob (CA-51st [D]) Wed, Jan 19, 2011
Rep. Deutch, Ted E. (FL-19th [D]) Wed, Jan 26, 2011
Rep. McCarthy, Carolyn (NY-4th [D]) Wed, Feb 9, 2011
Rep. Nadler, Jerrold L. (NY-8th [D]) Wed, Jan 19, 2011
Rep. Grijalva, Raul M. (AZ-7th [D]) Wed, Jan 26, 2011
Rep. Wilson, Frederica (FL-17th [D]) Fri, Feb 18, 2011
Rep. Cicilline, David (RI-1st [D]) Wed, Jan 26, 2011
Del. Norton, Eleanor Holmes (DC [D]) Wed, Jan 19, 2011
Rep. Farr, Sam (CA-17th [D]) Wed, Jan 19, 2011
Rep. Hastings, Alcee L. (FL-23rd [D]) Wed, Jan 19, 2011
Rep. Chu, Judy M. (CA-32nd [D]) Wed, Jan 19, 2011
Rep. Jackson, Jesse Louis (IL-2nd [D]) Wed, Jan 19, 2011
Rep. DeGette, Diana L. (CO-1st [D]) Wed, Jan 19, 2011
Rep. Lofgren, Zoe (CA-16th [D]) Wed, Jan 19, 2011
Rep. Matsui, Doris O. (CA-5th [D]) Wed, Jan 19, 2011
Rep. Stark, Fortney H. (CA-13th [D]) Wed, Jan 19, 2011
Rep. Roybal-Allard, Lucille (CA-34th [D]) Wed, Feb 9, 2011
Rep. Harman, Jane (CA-36th [D]) Wed, Jan 26, 2011
Rep. Woolsey, Lynn C. (CA-6th [D]) Tue, Feb 8, 2011
Rep. Weiner, Anthony David (NY-9th [D]) Wed, Jan 19, 2011
Rep. Maloney, Carolyn B. (NY-14th [D]) Wed, Jan 19, 2011
Rep. Slaughter, Louise McIntosh (NY-28th [D]) Wed, Jan 19, 2011
Rep. Schakowsky, Janice D. (IL-9th [D]) Wed, Jan 19, 2011
Rep. Serrano, Jose E. (NY-16th [D]) Wed, Jan 19, 2011
Rep. Van Hollen, Christopher (MD-8th [D]) Wed, Jan 19, 2011
Rep. Tsongas, Nicola S. (MA-5th [D]) Thu, Mar 10, 2011
Rep. Moran, James P. (VA-8th [D]) Wed, Jan 19, 2011
Rep. Gutierrez, Luis V. (IL-4th [D]) Wed, Jan 19, 2011
Rep. Doyle, Michael F. (PA-14th [D]) Thu, Jan 20, 2011
Actions
DateTypeDescriptionResult
1/1/0001 action Referred to the House Committee on the Judiciary.
1/1/0001 action Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.
Rolls
Committee Assignments
CommitteeSubCommitteeActivity
House Judiciary Referral, In Committee
House Judiciary Crime, Terrorism, and Homeland Security Referral
Subject Terms
Crime and law enforcement
Firearms and explosives
Licensing and registrations
Retail and wholesale trades
Related Legislative
Amendments
Titles Assigned
TypeASTitle
short introduced Fire Sale Loophole Closing Act
official introduced 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.

SUMMARY:

1/12/2011--Introduced. 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.
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