HR 2618

The Federal Firearm Licensee Act aims to modernize the regulation of firearm dealers and importers by strengthening security requirements, expanding recordkeeping, and increasing ATF authority. Key provisions include mandating business premises security plans, quarterly inventory checks, video surveillance, and reporting lost or stolen firearms. The bill also requires dealers to conduct background checks on employees and facilitates electronic recordkeeping, while removing outdated restrictions on ATF oversight and penalties for non-compliance. It seeks to enhance public safety and combat firearm trafficking by holding dealers accountable for their practices.