,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #dhgb  ,,in ,,the ,,house ,,of  
,,representatives  ,october #bh1        
#bjai,mr4 ,cicilline 7for himself1 ,mr4 
,sires1 ,mr4 ,swalwell of ,california1  
,ms4 ,norton1 ,mr4 ,cohen1 ,ms4         
,de,gette1 and ,mr4 ,nadler7 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 second  
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