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NRA-Backed "Protecting Gun Owners In Bankruptcy Act of 2010" Passes U.S. House

Friday, July 30, 2010

This 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.).

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Established in 1975, the Institute for Legislative Action (ILA) is the "lobbying" arm of the National Rifle Association of America. ILA is responsible for preserving the right of all law-abiding individuals in the legislative, political, and legal arenas, to purchase, possess and use firearms for legitimate purposes as guaranteed by the Second Amendment to the U.S. Constitution.