H.R. 4688 — COOL OFF Act

This section establishes a 3-business-day waiting period (i.e., a day on which state offices are open) before a non-licensee may receive a handgun from another non-licensee, unless the transfer meets specified exceptions (e.g., to law enforcement personnel acting in an official capacity; certain family loans; temporary transfers to prevent imminent death or great bodily harm; or temporary use at a shooting range, for hunting or fishing, or in the transferor's presence). The section further requires licensed firearms dealers, importers, or manufacturers to wait 3 business days after contacting the National Instant Criminal Background Check System before transferring a handgun to a non-licensee, unless an exception applies; adds violations to criminal penalties under 18 U.S.C. 924(a)(1)(B); and applies these requirements to conduct occurring 90 days after enactment. (As background, current law generally requires federal firearms licensees to conduct a background check before transferring a handgun but imposes no mandatory waiting period after approval.)