S.B. No. 357 introduces new regulations regarding the reporting of lost or stolen firearms in Texas. It mandates that peace officers must report any loss or theft of a firearm that they are informed about by the owner or the owner's agent to the department. The 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.

The bill also establishes limited liability for individuals whose firearms are lost or stolen. Specifically, a person will not be held liable for harm caused by their lost or stolen firearm if they report the incident to a peace officer or law enforcement agency within 24 hours of becoming aware of the loss or theft. This provision aims to encourage timely reporting of lost or stolen firearms. The new regulations will take effect on September 1, 2025, and apply only to causes of action that accrue on or after that date.

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