Amends the Brady Handgun Violence Prevention Act to direct the Attorney General to prescribe regulations to ensure that the national instant criminal background check system (NICS) preserves all records with respect to the prospective receipt of a firearm by an individual whose name appears in the Violent Gang and Terrorist Organization File maintained by the Federal Bureau of Investigation (FBI) until NICS has provided the records to the FBI where NICS is contacted by a licensee for information on whether receipt of a firearm by that individual would violate firearm possession provisions and the information available to NICS does not demonstrate that the receipt would be such a violation.