Prevent Illegal Gun Resales Act

The Prevent Illegal Gun Resales Act increases licensing fees for firearm dealers and requires them to implement specific business practices to prevent firearms from being diverted to illegal markets or straw purchasers. It mandates dealers to certify secure gun storage availability, submit detailed business procedures, maintain electronic records of transactions, and respond to law enforcement requests within 24 hours. Dealers must update security measures if they report multiple lost/stolen firearms or firearms traced to crimes, with penalties including civil fines up to $5,000 and license suspension for non-compliance. The bill also establishes enhanced regulations for "high risk" dealers identified by the Attorney General based on crime trace data or previous violations.