H.R. 5827: Protecting Gun Owners in Bankruptcy Act of 2010

H.R. 5827

Protecting Gun Owners in Bankruptcy Act of 2010

Date
July 27, 2010 (111th Congress, 2nd Session)

Staff Contact
Sarah Makin

Floor Situation

H.R. 5827 is expected to be considered on the floor of the House on Tuesday, July 27, 2010, under a motion to suspend the rules, requiring a two-thirds vote for passage.  The legislation was introduced by Rep. John Boccieri (D-OH) on July 22, 2010.  The House Committee on the Judiciary took no official action on H.R. 5827.

Bill Summary

H.R. 5827 would exempt “a single rifle, shotgun, or pistol of any value or any combination of rifle, shotgun, or pistol in aggregate value not to exceed $1,500” from the claims of consumer bankruptcy creditors.  Specifically, the bill would permit firearms held primarily for personal, family or household use of the debtor to be exempt from the claims of creditors under federal exemption law. 

According to the Congressional Research Service, only 10 states have some form of an explicit exemption for firearms.

Cost

The Congressional Budget Office has not produced a cost estimate for H.R. 5827 as of press time.