Handgun Registration Act of 1999

Handgun Registration Act of 1999 - Amends the Omnibus Crime Control and Safe Streets Act of 1968 to provide for the reduction by 25 percent of drug control and system improvement (Byrne) grant funds available to a State that does not have in effect a law which requires: (1) each individual to whom a handgun is transferred to complete a handgun registration form that includes specified information identifying the transferee and the handgun and proof of insurance coverage for the transferee's liability to any person who, while engaged in lawful activity, suffers bodily injury or death through the misuse of that handgun resulting from the transferee's negligence; and (2) the chief law enforcement officer of the State to furnish information from handgun registration forms to Federal, State, and local law enforcement authorities upon request. Provides for redistribution of withheld funds to participating States that do have such a law in effect.