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Protecting Firearms in Bankruptcy: New Rules for Gun Owners.

This act amends bankruptcy laws, allowing individuals filing for bankruptcy to keep firearms valued up to $3,000. This means firearms, previously treated like other assets, can now be protected from seizure in bankruptcy proceedings, directly impacting gun owners' finances and rights.
Key points
Ability to keep firearms: Individuals filing for bankruptcy can protect firearms with a total value of up to $3,000 from being seized.
New rules take effect immediately upon enactment and apply to bankruptcy cases commenced on or after that date.
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Status:
Introduced
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Additional Information
Protecting Gun Owners in Bankruptcy Act
Print number: HR 4064
Sponsor: Rep. Tenney, Claudia [R-NY-24]
Process start date: 2025-06-20