Federal Firearms Act

Federal Firearms Act - Title I: Reenactment of the Federal Firearms Act - Sets forth definitions of terms used in this Act. Specifies acts which shall be unlawful with respect to the movement of firearms or ammunition in interstate or foreign commerce. Provides that any manufacturer or dealer desiring to transport, ship, or receive firearms or ammunition in interstate or foreign commerce shall transmit to the Secretary of the Treasury an application for a license which shall contain such information as prescribed by the Secretary. Requires the Secretary to revoke such license whenever the licensee is convicted of a violation of any of the provisions of this Act.

States that the provisions of this Act shall not apply to: (1) the United States or any department, independent establishment, or agency thereof; (2) any State, territory, or possession, or the District of Columbia, or any department independent establishment, agency, or any political subdivision thereof; (3) any duly commissioned officer or agent of the United States, a State, territory, or possession, or the District of Columbia, or any political subdivision thereof; (4) or to any bank, public carrier, express, or armored truck company organizedand operating in good faith for the transportation of money and valuables; and (5) or to any reserach laboratory designated by the Secretary of the Treasury.

Provides that any person violating any of the provisions of this Act, or who makes any statement in applying for the license or exemptions provided for in this Act, knowing such statement to be false, shall be fined not more than $2,000 or imprisoned for not more than five years, or both.

Title II: Repeal of Chapter 44 of Title 18, United States Code - Provides for the repeal of chapter 44 (Firearms) of title 18 (Crimes and Criminal Procedure) of the United States Code.

Title III: Effective Date - Provides that the Act shall take effect ninety days afeter enactment.