Federal Firearms Act

[AI summary unavailable — showing source text] Federal Firearms Act - Title I: Congressional Findings - States that the handgun has increasingly become the principal instrument of violent crime in the United States and that illicit acquisition and possession of such firearms must be curbed by Federal, State, and local governments. Title II: Amendments to Gun Control Act of 1968 - Revises Federal firearm dealer qualifications to provide that pawnbrokers may not deal in firearms other than shotguns or rifles. Increases the license fees for dealers in firearms. Directs the Secretary of the Treasury to make affirmative findings that requirements precedent to the issue of a license to deal in firearms have been met. Authorizes, in addition to license revocation, a civil penalty of up to $10,000 per violation of Federal law relative to firearms by the holder of a license to deal in firearms. Requires licensees to make quarterly reports to the Secretary of the Treasury which shall contain specified information, including the number, type and localities of firearms sold by such licensees. Prohibits the traffic in interstate commerce of handguns with a confirmed length and height of not less than 10 inches, or not meeting other specifie…