Bars any unlicensed individual from purchasing two or more handguns during any 30-day period.
Sets penalties for violations.
Increases penalties for making knowingly false statements in connection with firearms.
Extends the deadlines for the destruction of: (1) records related to handgun transfers subject to the waiting period; and (2) records of the national instant criminal background check system.
Revises the definition of "engaged in the business" as applied to a firearms dealer to include any person who transfers more than one handgun in any 30-day period to a person who is not a licensed dealer.