Federal Firearms Law Reform Act of 1986

[AI summary unavailable — showing source text] Federal Firearms Law Reform Act of 1986 - Amends the Gun Control Act of 1968 to prohibit the transfer or possession of silencers. Authorizes the Secretary of the Treasury to buy any registered silencer. Makes it unlawful for any person to sell or ship any firearm or ammunition to someone who: (1) is under indictment for, or has been convicted of, a felony; (2) is a fugitive from justice; (3) is an unlawful user of or addicted to a controlled substance; (4) has been adjudicated as a mental incompetent or committed to a mental institution; (5) has received a dishonorable discharge from the armed forces; (6) has renounced U.S. citizenship; or (7) is an illegal alien. Makes it unlawful for such persons to receive, possess, or transfer any firearm or ammunition in interstate or foreign commerce. Permits gun sales at certain gun shows. Prohibits the importation of the barrel of any firearm if the importation of that firearm is prohibited. Revises the criteria reviewed by the Secretary in approving applications for licenses. Grants the Secretary authority to suspend (rather than just revoke) a license. Modifies the penalty provisions for certain licensee violations. Eliminates the record-…