A bill to ban the importation, manufacture, sale, and transfer of Saturday Night Specials, to improve the effectiveness of the Gun Control Act of 1968, to ban possession, shipment, transportation, and receipt of all firearms by felons.

[AI summary unavailable — showing source text] Declares it to be the finding of Congress that the ready availability of cheap, low-quality, and easily concealable handguns, commonly known as Saturday Night Specials, is a significant factor in the prevalence of lawlessness and disorder in the United States. States that the existing ban on the importation of such handguns and the absence of effective controls on domestic manufacture and sale of such guns constitute major shortcomings in existing law. Revises the lists of persons barred from distributing or receiving explosives to make such lists consistent with the list of persons barred from possessing firearms. Establishes a civil penalty consisting of a fine of up to $10,000 for each violation by an individual of the rules or regulations governing the importation, manufacture, distribution and storage of explosive materials. Defines terms relating to the firearm trade and to handguns. Revises the regulations with respect to interstate dealings in firearms to prohibit, without exception, the interstate dealing in handguns which do not meet the standards established by this Act for approval by the Secretary of the Treasury. Prohibits the sale or transfer by licensed dealers of h…