Handgun Control Act

Handgun Control Act - Makes it unlawful for any person to import, manufacture, sell, buy, transfer, receive or transport any handgun and after 180 days from the effective date of this Act it shall be illegal to own or possess any handgun or handgun ammunition. Provides that the Secretary of the Treasury may, consistent with public safety and necessity, exempt from such prohibition the importation, manufacture, sale, purchase, transfer, receipt, or transportation of handguns by importers, manufacturers, or dealers, licensed under chapter 44 of title 18, United States Code, and by pistol clubs licensed under this chapter, as may be in his judgement be required for the operation of such pistol clubs.

Requires a pistol club desiring to be licensed under this chapter to file an application for such license with the Secretary. Establishes a $25 annual fee for such license. Directs such clubs to meet various requirement in order to have their applications approved.

Provides for administrative and judicial review in the case of a license denial or revocation by the Secretary.

Provides that whoever violates any provision of this chapter or knowingly makes any false statement or representation with respect to the information required by the provisions of this chapter to be kept in the records of a pistol club licensed under this chapter, or in applying for any license under the provisions of this chapter, shall be fined not more than $5,000 or imprisoned not more than five years, or both, and shall become eligible for parole as the Board of Parole shall determine.

Provides that any handgun involved or used in, or intended to be used in, any violation of the provisions of this chapter or chapter 44 (firearms legislation) of title 18, United States Code, or any rule or regulation promulgated thereunder, or any violation of any other criminal law of the United States, shall be subject to seizure and forfeiture.

Exempts from the provisions of this Act the importation, manufacture, sale, purchase, transfer, receipt, or transportation of any handgun which the Secretary determines is: (1) being imported or manufactured for, sold, or transferred to, purchased, received, or transported by, or issued for the use of, the United States or any department or agency thereof or any State or any department, agency, or political subdivision thereof: (2) unserviceable as to firing condition, and intended to use as a curio, museum piece, or collectors' item; and (3) a professional security guard service which is licensed by the State in which the handgun is to be used and which is authorized to provide armed security guards for hire.

Establishes procedure for the reimbursement of a person who voluntarily delivers a handgun to a law enforcement agency.

Directs the Secretary to prescribe such rules and regulations as he deems necessary to carry out the provisions of this Act.

Authorizes to be appropriated such sums as are necessary to carry out the purposes of this Act. (Adds 18 U.S.C. 1091-1100)