Federal Firearm Licensee Act

This bill sets new rules for businesses that are licensed to sell, import, or make guns. These businesses would have to secure their locations, check their inventory every three months, use video cameras where guns are sold, and run background checks on their employees. They would also have to report to the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) if any guns are lost, stolen, or missing, and let the ATF know when a gun is sold before a background check is finished. The bill also gives the ATF more power to oversee gun businesses, including removing the limit on how many times per year they can inspect a business, requiring inspections of high-risk businesses, adding 650 more investigators, and allowing the ATF to deny a gun business license if it could put public safety at risk or if the applicant is unlikely to follow the law.

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