The bill establishes a new requirement for individuals who own or lawfully possess a firearm to report any loss or theft of the firearm to the local law enforcement agency within 48 hours of becoming aware of the incident. The report must include specific details such as the make, model, caliber, and serial number of the firearm, as well as the circumstances surrounding its last sighting. Additionally, upon receiving such a report, the local law enforcement agency is mandated to create an incident report and provide a copy to the reporting individual at no cost, if requested.

Furthermore, if the individual who reported the firearm as lost or stolen later recovers it, they are required to notify the same local law enforcement agency within 48 hours of the recovery. This bill aims to enhance accountability and tracking of lost or stolen firearms, thereby potentially aiding in crime prevention and resolution. The provisions outlined in the bill will take effect on July 1, 2026.