Firearms Mandatory Sentencing Act of 1981

Firearms Mandatory Sentencing Act of 1981 - Amends the Omnibus Crime Control Act of 1970 to revise and increase the mandatory penalties for using or carrying a firearm during commission of a Federal felony.

Extends to first offenders the stipulations, currently applicable only to second offenders, that the court not suspend any sentence, grant probation, or impose the additional sentence concurrently with the sentence imposed for the felony.

Imposes a new requirement that such offenders may not be eligible for parole until one-half of the term of imprisonment has expired (parole eligibility generally arises when one-third of the term has expired).