Courtesy of Sheila Jackson Lee: H.R. 127 would require the owner of any firearm to supply the Bureau of Alcohol, Tobacco, Firearms and Explosives with the make, model and serial number of every gun he or she owns, and that includes guns people may have owned for years. They would also have to report the identity of any person to whom, and any period of time during which, the firearm will be loaned to that individual.
The licensing requirement mandates that the license applicant undergoes a criminal background check, and then submits to a psychological evaluation to determine whether the person is psychologically unsuited to possess a firearm. Successful licensees must show they have an insurance policy which will cost $800.
Dang. Seems like I will have misplaced some of my firearms. Maybe someone from the BATFE will help me find them when they come sniffing around. They're only trying to keep us safe, don't you know...GW
P.S. Some of them don't even have serial numbers, either. Too dang old for that.