Personal Safety Firearms Act of 1979

Personal Safety Firearms Act of 1979 - Title I: Registration - Makes it unlawful to possess a firearm not registered as provided by this title. Exempts from this prohibition firearms, previously unregistered, which are: (1) held by a licensed dealer for sale; (2) continuously possessed by an individual up to 180 days after the effective date of this Act; or (3) possessed by Federal, State, or local governments.

Requires a purchaser of a firearm from a person other than a licensed dealer to make application with the Secretary of the Treasury for the registration of the firearm. Directs a seller of a registered firearm to return the certificate of registration to the Secretary. Requires a licensed dealer to accept from a purchaser a completed application for registration of the firearm and to file such application with the Secretary. Specifies data to be included in such application.

Prohibits a licensed dealer from: (1) receiving firearms by pledge or pawn without a registration certificate; and (2) selling ammunition without seeing a purchaser's certificate. Requires the possessor of a firearm to notify the Secretary within ten days of loss, theft, or destruction of the firearm.

Imposes criminal penalties for violation of the registration requirements and for the knowing falsification of information required by this title. Authorizes the Secretary to pay reasonable value for the voluntary relinquishment of firearms.

Title II: Licensing - Specifies requirements for an adequate permit system for the possession of firearms, and directs the Secretary of the Treasury to determine which States have adopted such systems.

Makes it unlawful to transfer any firearm or ammunition to any person who does not have a valid State or Federal permit. Specifies qualifications which must be met before a licensed dealer shall issue a Federal gun license. Requires dealers to maintain records of all licenses issued.

Title III: Specifications for Approved Handguns - Directs the Secretary of the Treasury to not approve for sale or delivery by a licensed dealer, importer, manufacturer, or collector any handgun model unless samples of such model are evaluated and found to meet certain standards. Specifies standards for pistols and revolvers, including dimensions, frame construction, weight, caliber, and safety features. Authorizes the Secretary to issue additional standards made necessary by changes in the technology or manufacture of handguns.

Directs the Secretary to compile and publish annually in the Federal Register a list of approved handgun models, and to furnish such list to approved licensees. Sets forth procedures where handgun models are found not to comply with the relevant standards.

Makes it unlawful for any person to reduce the length of a previously approved handgun if, as a result of such reduction, the handgun no longer meets the approved standards.