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Protecting Gun Owners in Bankruptcy: New Rules

New bankruptcy rules allow individuals filing for bankruptcy to keep a firearm or firearms worth up to $3,000 in total value. This change applies to bankruptcy cases started after the law takes effect.
Key points
You may keep firearms worth up to $3,000 during bankruptcy.
The change only applies to new bankruptcy cases.
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Expired
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Additional Information
Print number: 117_HR_7493
Sponsor: Rep. Jacobs, Chris [R-NY-27]
Process start date: 2022-04-11
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Protecting Gun Owners in Bankruptcy Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7493.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-04-11.

What are the main provisions?

Key points include:

  • You may keep firearms worth up to $3,000 during bankruptcy.
  • The change only applies to new bankruptcy cases.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Jacobs, Chris [R-NY-27].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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