The Federal Firearm Licensee Act would modernize federal regulations governing gun dealers for the first time in over 30 years. The bill affects licensed firearm dealers, manufacturers, importers, and online platforms that facilitate gun sales. It requires dealers to implement physical security measures like safes, surveillance cameras, and locked cabinets to prevent theft; conduct quarterly inventory checks and report missing firearms; maintain electronic sales records permanently rather than destroying them after 24 hours; and obtain background checks on all employees with firearm access. The bill increases licensing fees (from $1,000 to $2,000 annually for dealers) and establishes a new "facilitator" license category for online marketplaces. It expands background check reporting requirements and allows the ATF to conduct annual inspections of high-risk dealers and every five years for others, with authority to suspend or revoke licenses for violations. The bill also repeals the "Tiahrt Amendments," which currently restrict law enforcement access to firearms trace data. The ATF would receive authorization to hire 650 additional investigators, and the Attorney General must submit implementation reports to Congress within two years and annually thereafter.
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