H.R. 4872 · 116th Congress
Fire Sale Loophole Closing Act
- Stage
- In committee
- Sponsor
- David Cicilline
- Introduced
- 2019-10-28
- Latest action
- 2019-12-18 · Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.
Summary
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.