The proposed bill establishes a new requirement for individuals who own or lawfully possess firearms to report any loss or theft of their firearms 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 known location. 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.

Additionally, the bill stipulates that if an individual who has reported a firearm as lost or stolen later recovers the firearm, they must notify the same local law enforcement agency within 48 hours of the recovery. This legislation aims to enhance accountability and tracking of lost or stolen firearms, thereby potentially aiding in crime prevention and investigation efforts. The act is set to take effect on July 1, 2026.