Bullet Tracing Act to Reduce Gun Violence

Bullet Tracing Act To Reduce Gun Violence - Amends the Federal criminal code to: (1) direct the Secretary of the Treasury to compile and cause to be published in the Federal Register, on an annual basis, a list of the 50 firearms, by manufacturer and model name, that have been most frequently used by criminals in the United States; and (2) prohibit a licensed manufacturer or importer of firearms from transferring to any person a firearm of a make and model that is on the list most recently issued before test firing the firearm, preparing ballistics records of the fired bullet and cartridge casings, and making the records available to the Secretary for entry in a computerized database.

Authorizes the Secretary, with respect to each violation and after notice and opportunity for hearing, to suspend for up to five years or revoke the license of the firearms licensee, impose on the licensee a civil fine of up to $20,000, or both. Limits review of the Secretary's action.

(Sec. 3) Directs the Attorney General and the Secretary to assist qualified firearms manufacturers and importers in: (1) obtaining use of new and upgraded computerized ballistics equipment and bullet recovery equipment owned by the Government, to be placed at the sites of licensed manufacturers and importers; (2) training personnel necessary to develop and maintain a database of ballistics records, research, and evaluation; and (3) taking any other steps necessary to implement effective ballistics testing.

Specifies that a manufacturer or importer shall be considered qualified for assistance only if the Secretary determines that the manufacturer or importer: (1) provides the Secretary with 24-hour online access to the ballistics records which the manufacturer or importer is required to prepare and make available pursuant to this Act; (2) keeps such records in accordance with uniform recordkeeping practices established by the Secretary; and (3) meets such other requirements as the Secretary establishes relating to the creation and preservation of ballistics records.

Sets forth annual reporting requirements.