NRA-Backed ‘Protecting Gun Owners In Bankruptcy Act of 2010' Passes U.S. House
Charlotte, NC –-(Ammoland.com)-Last week, by a margin of 307-113, a bipartisan majority of the U.S. House of Representatives voted to amend the federal definition of “household goods” to protect firearms from creditors in bankruptcy proceedings.
NRA-supported H.R. 5827, offered by U.S. Representative John Boccieri (D-Ohio), would ensure that a person who files for bankruptcy would not lose the constitutionally protected means of protecting his or her life, family, and home. The bill sets a cap of $3,000 on the value of a firearm collection eligible for the protection, so people in bankruptcy proceedings can continue to own serviceable firearms.
The Senate companion bill is S. 3654, sponsored by Sen. Patrick Leahy (D-Vt.).
Established in 1871, the National Rifle Association is America's oldest civil rights and sportsmen's group. Four million members strong, NRA continues its mission to uphold Second Amendment rights and to advocate enforcement of existing laws against violent offenders to reduce crime. The Association remains the nation's leader in firearm education and training for law-abiding gun owners, law enforcement and the military. Visit: www.nra.org