HR.238 - Fire Sale Loophole Closing Act

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1/14/2013--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criminal code to make it unlawful for: (1) anyone whose federal license to import, manufacture, or deal in firearms has been revoked, or whose license renewal application has been denied, to transfer business inventory firearms into a personal collection or to an employee of such person or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.

Referred To The Subcommittee On Crime, Terrorism, Homeland Security, And Investigations.
January 25th 2013 @ 12:00 AM

Referred To The House Committee On The Judiciary.
January 14th 2013 @ 12:00 AM

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