Summary

Creates a fast-track administrative process for certain firearm transfer, registration, and manufacture applications: if the federal agency does not approve or deny within 3 business days the application is treated as approved. It also establishes an appeal process and fee-shifting for transferees denied for background-check or legal-bar reasons, requires return of firearms if a late denial is sustained, and orders reports plus an ATF–FBI memorandum of understanding on NICS processing and unresolved background-check inquiries.

• Creates a 3-business-day "deemed approval" for certain firearm transfer, registration, and making applications if the agency does not act in time.
• Establishes an administrative appeal process for denied transfers that includes access to the NICS transaction number and a voluntary-appeal-file-like submission program.
• Requires reimbursement of reasonable and necessary attorney fees to transferees who prevail on appeal.
• Provides temporary criminal-liability shields for transferors and transferees for transfers deemed approved; transferees must return the firearm within 14 days if a later denial is sustained.
• Directs GAO and the DOJ Inspector General to report to Congress on unresolved and administered NICS inquiries covering specified multi-year periods.
• Requires an MOU between ATF and FBI governing administration and processing of NICS firearm-transfer inquiries.
• Applies the procedural and deemed-approval rules to applications filed or pending on or after enactment; reports and MOU due within 180 days.
• Limits later denials to substantive statutory grounds and forbids denial based solely on expiration of the 3-business-day window.
• Defines key terms by cross-reference to existing federal law (for example, NICS and firearm).