,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #ic  ,,in ,,the ,,house ,,of    
,,representatives  ,january #c1 #bjac   
,mr4 ,cicilline introduced the following
 bill2 which was referred to the        
,committee on the ,judiciary  ,a ,,bill 
,to amend chapter #dd of title #ah1     
,united ,states ,code1 to restrict the  
ability of a person whose ,federal      
license to import1 manufacture1 or deal 
in firearms has been revoked1 whose     
application to renew such a license has 
been denied1 or who has received a      
license revocation or renewal denial    
notice1 to transfer business inventory  
firearms1 and for other purposes4  #a4  
,short title ,this ,act may be cited as 
the ,fire ,sale ,loophole ,closing ,act4
  #b4 ,restrictions on the ability of a 
person whose ,federal license to import1
 manufacture1 or deal in firearms has   
been revoked1 whose application to renew
 such a license has been denied1 or who 
has received a license revocation or    
renewal denial notice1 to transfer      

business inventory firearms  7a7        
,restrictions ,section #ibb of title    
#ah1 ,united ,states ,code1 is amended  
by adding at the end the following3     
7aa7 7#a7 7,a7 ,it shall be unlawful for
 a person who has been notified by the  
,attorney ,general that the ,attorney   
,general has made a determination to    
revoke a license issued to the person   
under this chapter to import1           
manufacture1 or deal in firearms1 or to 
deny an application of the person to    
renew such a license1 to--  7i7 transfer
 a business inventory firearm of the    
person--  7,i7 into a personal          
collection of the person2 or  7,,ii7 to 
an employee of the person1 or to an     
individual described in section         
#ibc7;d77#a77;,b7 with respect to the   
person2 or  7ii7 receive a firearm that 
was a business inventory firearm of the 
person as of the date the person        
received the notice4  7,b7 ,subparagraph
 7,a7 shall not apply with respect to a 
license revocation or denial            

determination that is rescinded4  7#b7  
7,a7 ,it shall be unlawful for a person1
 on or after the effective date of the  
revocation of a license issued to the   
person under this chapter to import1    
manufacture1 or deal in firearms1 or 7in
 the case that the application of the   
person to renew such a license is       
denied7 on or after the date the license
 expires1 to--  7i7 engage in conduct   
prohibited by paragraph 7#a72 or  7ii7  
transfer to any other person 7except a  
person licensed under this chapter or a 
,federal1 ,state1 or local law          
enforcement agency7 a firearm that was a
 business inventory firearm of the      
person as of the effective date or      
expiration date1 as the case may be4    
7,b7 ,subparagraph 7,a7 shall not apply 
with respect to a license revocation or 
denial determination that is reversed4  
4  7b7 ,business inventory defined      
,section #iba7;a7 of such title is      
amended by adding at the end the        
following3  7#cf7 ,business inventory   

firearm ,the term business inventory    
firearm means1 with respect to a person1
 a firearm required by law to be        
recorded in the acquisition and         
disposition logs of any firearms        
business of the person4  4  7c7         
,conforming amendment ,section #ibc7;c7 
of such title is amended in the #bnd    
sentence by inserting section #ibb7;aa7 
and to after subject only to4  7d7      
,penalties ,section #ibd7;a7 of such    
title is amended by adding at the end   
the following3  7#h7 ,whoever knowingly 
violates section #ibb7;aa7 shall be     
fined under this title1 imprisoned not  
more than #a year 7or1 if the violation 
was willful1 #e years71 or both4  4  7e7
 ,requirement that license revocation or
 application denial notice include text 
of law prohibiting dealing in firearms  
without a ,federal firearms license and 
restricting transfer of firearms after  
receipt of official license revocation  
or renewal application denial notice    
,section #ibc7;f77#a7 of such title is  

amended in the last sentence by         
inserting 1 and shall set forth the     
provisions of ,federal law and          
regulation which prohibit a person not  
licensed under this chapter from        
engaging in the business of dealing in  
firearms or are relevant in determining 
whether a person is doing so1 and the   
provisions of section #ibb7;aa7 before  
the period4