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Federal

Default Proceed Sale Transparency Act

Source: Congress.gov  ·  1,552 words in original text
This bill requires gun dealers, manufacturers and importers to report firearm sales to the Federal Bureau of Investigation within 24 hours when they transfer a gun before the background check is completed. The bill also requires the FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives to publish yearly reports about these early transfers to the public.
- Federally licensed firearms importers, manufacturers and dealers - The Federal Bureau of Investigation - The Bureau of Alcohol, Tobacco, Firearms and Explosives - State and local law enforcement agencies - The public (who will receive annual reports)
- Licensed gun dealers must report firearm transfers to the FBI within 24 hours if they complete the sale before receiving a unique identification number from the background check system (Sec. 2(a)) - The Attorney General must create an online portal and telephone hotline for reporting these transfers within 180 days of the law's enactment (Sec. 2(a)) - The FBI must prioritize completing background checks for these early transfers (Sec. 2(b)) - Background check records for these transfers cannot be destroyed before the background check is completed (Sec. 2(c)) - The FBI must publish a yearly public report showing the number of early transfers by state and what happened with each transfer (Sec. 3(a)) - The Bureau of Alcohol, Tobacco, Firearms and Explosives must publish a yearly public report on how long it takes to recover illegal firearms and which states those firearms were found in (Sec. 3(b))
Gun dealers will be required to report early firearm transfers to the FBI within 24 hours instead of operating without this reporting requirement. The background check system will prioritize checking these cases faster. Records related to these transfers cannot be deleted before the background check finishes. The public will now have access to annual reports showing how many guns were transferred before background checks were complete and what happened to those guns.
- Default firearm transfer: A firearm transfer that happens before the background check system provides a unique identification number to complete the transaction - Licensed importer, manufacturer or dealer: A business federally licensed to sell or transfer firearms
Not specified in bill text
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.