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119-hr-4222119th CongressWALLET

Fire Sale Loophole Closing Act of 2025

Sponsored By: Representative Dean, Madeleine [D-PA-4]

Introduced

Summary

This bill would limit transfers of business inventory firearms after a dealer's license is denied, revoked, or expires, aiming to close a "fire sale" loophole. It would also define what counts as a "business inventory firearm" and add criminal penalties and notice requirements.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 0 benefits, 3 costs, 0 mixed.

Criminal penalties and clearer notices for dealers

If enacted, anyone who knowingly violates the new inventory-transfer rules would face fines and jail. Jail could be up to 1 year, or up to 5 years if the act was willful. Notices of revocation or denial would also have to include the federal rules on unlicensed dealing and the new inventory restrictions.

New limits on dealer inventory after revocation

If enacted, gun dealers with a revoked license or a denied renewal would face strict inventory limits. On or after the effective revocation or expiration date, they would not be allowed to import, make, or deal in guns. For the first 30 days after that date, they could only transfer business-inventory guns to law enforcement; transfers to licensed persons would be allowed after 30 days. After a revocation or denial notice, they would also be barred from moving inventory into a personal collection, giving it to employees or certain others, or receiving new inventory, unless the decision is later reversed. The bill would define business inventory firearms as guns recorded in the business acquisition and disposition log.

One-year resale hold on former inventory

If enacted, anyone who moves a business-inventory gun into a personal collection could not sell or give it away for 1 year. This could reduce resale money and require storage during that year.

Sponsors & CoSponsors

Sponsor

Dean, Madeleine [D-PA-4]

PA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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