To prohibit the possession or transfer of junk guns, also known as Saturday Night Specials.

Amends the Brady Handgun Violence Prevention Act to prohibit the possession or transfer of a junk gun which has been shipped or transported in interstate or foreign commerce. Exempts the continuous and otherwise lawful possession of such a gun that began before the effective date of this Act.

Defines "junk gun" to mean: (1) a handgun that is not a sporting handgun (i.e., a type of handgun generally recognized as particularly suitable for or readily adaptable to sporting purposes); and (2) any combination of parts from which such a handgun can be assembled.