The bill requires an individual who owns a firearm to report the loss or theft of that firearm to a law enforcement agency within 5 days after discovering that the firearm was lost or stolen. A first offense for failure to make such a report is a petty offense punishable by a $25 fine, and a second or subsequent offense is a class 3 misdemeanor. The 5-day reporting requirement does not apply to a licensed gun dealer.
The bill requires a law enforcement agency that receives a report of a lost or stolen firearm to enter information about the lost or stolen firearm into the national crime information center database and report the information to the Colorado bureau of investigation.
(Note: This summary applies to this bill as introduced.)