S.B. No. 357 introduces new regulations regarding the reporting of lost or stolen firearms in Texas. The bill mandates that peace officers must report any loss or theft of a firearm to the department upon receiving a report from the firearm's owner or their agent. This report must include the owner's name, relevant information about the firearm, and the date the owner became aware of the loss or theft. Additionally, the department is required to regularly send these reports to the National Crime Information Center.

Furthermore, the bill establishes a new chapter in the Civil Practice and Remedies Code that provides limited liability for individuals whose firearms are lost or stolen. Specifically, a person will not be held liable for any harm caused by their lost or stolen firearm if they report the incident to law enforcement within 24 hours of becoming aware of the loss. This provision aims to encourage timely reporting of lost or stolen firearms while protecting owners from liability for subsequent harm caused by those firearms. The act is set to take effect on September 1, 2025.

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