Here is a little better discription.
H.R. 45 (Rush): This bill would require a license for handguns and semiautomatics, including those currently possessed. The applicant must be thumbprinted and sign a certification that, effectively, the firearm will not be kept in a place where it would be available for the defense of the gun owner’s family. The applicant must also make available ALL of his psychiatric records, pass an exam, and pay a fee of up to $25. The license may be renewed after five years and may be revoked. Private sales would be outlawed, and reports to the attorney general of all transactions would be required, even when, as the bill allows, the AG determines that a state licensing system is sufficiently draconian to substitute for the federal license. With virtually no exceptions, ALL firearms transactions (involving semiautos, handguns, long guns, etc.) would be subject to a Brady check. In addition, the bill would make it unlawful in nearly all cases to keep any loaded firearm for self-defense. A variety of “crimes by omission” (such as failure to report certain things) would be created. Criminal penalties of up to ten years and almost unlimited regulatory and inspection authority would be established
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