SEC. 12002. DEFINING ‘‘ENGAGED IN THE BUSINESS’’.
Section 921(a) of title 18, United States Code, is amended—
(1) in paragraph (21)(C), by striking ‘‘with the principal
objective of livelihood and profit’’ and inserting ‘‘to predominantly earn a profit’’;
(2) by redesignating paragraphs (22) through (29) as paragraphs (23) through (30), respectively; and
(3) by inserting after paragraph (21) the following:
‘‘(22) The term ‘to predominantly earn a profit’ means that
the intent underlying the sale or disposition of firearms is predominantly one of obtaining pecuniary gain, as opposed to other intents,
such as improving or liquidating a personal firearms collection:
Provided, That proof of profit shall not be required as to a person
who engages in the regular and repetitive purchase and disposition
of firearms for criminal purposes or terrorism. For purposes of
this paragraph, the term ‘terrorism’ means activity, directed against
United States persons, which—
I guess you just have to forever take a loss on any gun you sell.Here's the bill:
‘‘Bipartisan Safer Communities Act’’
Here are the dealer parts:
IANAL, but I interpret that change to mean if you are a "hobby dealer", buying and selling firearms "predominately to earn a profit", you now need an FFL.
I have real problems with the wording, since it only focuses on the selling end... such that if you encountered hardships and had to liquidate your collection for cash, ATF could harass someone with this.
Not sure how you read that into it...I guess you just have to forever take a loss on any gun you sell.
(C)as applied to a dealer in firearms, as defined in section 921(a)(11)(A), a person who devotes time, attention, and labor to dealing in firearms as a regular course of trade or business with the principal objective of livelihood and profit through the repetitive purchase and resale of firearms, but such term shall not include a person who makes occasional sales, exchanges, or purchases of firearms for the enhancement of a personal collection or for a hobby, or who sells all or part of his personal collection of firearms;
(C)as applied to a dealer in firearms, as defined in section 921(a)(11)(A), a person who devotes time, attention, and labor to dealing in firearms as a regular course of trade or business to predominantly earn a profit through the repetitive purchase and resale of firearms, but such term shall not include a person who makes occasional sales, exchanges, or purchases of firearms for the enhancement of a personal collection or for a hobby, or who sells all or part of his personal collection of firearms;