Straw Purchaser Penalty Enhancement Act - Amends the federal criminal code to provide for an additional sentence of two years' imprisonment for violating the prohibitions against making false statements or misrepresenting identification regarding the acquisition of a firearm or ammunition: (1) knowing that the violation will further the transfer of two or more firearms to a person prohibited by law from shipping, transporting, possessing, or receiving a firearm; and (2) with the intent to conceal such person's identity from the transferor.
Prohibits the court from: (1) placing any person convicted of such violation on probation; and (2) reducing a term of imprisonment for such a violation so as to compensate for, or otherwise take into account, a term of imprisonment imposed or to be imposed for a separate such violation. Prohibits a term of imprisonment imposed under this Act from running concurrently with a term imposed on the person under any other legal provision, except that a term imposed may, in the court's discretion, run concurrently with another term imposed by the court at the same time for a separate such violation, subject to applicable guidelines and policy statements issued by the United States Sentencing Commission.
Directs the Attorney General to issue regulations requiring any form required to be completed by the purchaser of a firearm from a licensed person to include a notice of the provisions of this Act.