What is the "Brady Bill"?

Answer: Act of the United States Congress that mandated federal background checks on firearm purchasers in the United States, and imposed a five-day waiting period on purchases, until the NICS system was implemented in 1998.

One of the victims of the Reagan assassination attempt in 1981 was James Brady. Brady almost died after being shot in the eye. He suffered permanent bran damage as a result of the shooting. With that said, he later went on to become an advocate for gun control and in the early 90s, Congress passed the "Brady Bill". As mentioned above it established a five-day waiting period and background check for prospective gun buyers. Here's the exact language from the Bureau of Alcohol, Tobacco, Firearms and Explosives:

On November 30, 1993, the Brady Handgun Violence Prevention Act was enacted, amending the Gun Control Act of 1968. The Brady Law imposed as an interim measure a waiting period of 5 days before a licensed importer, manufacturer, or dealer may sell, deliver, or transfer a handgun to an unlicensed individual.
The waiting period applies only in states without an acceptable alternate system of conducting background checks on handgun purchasers. The interim provisions of the Brady Law became effective on February 28, 1994, and ceased to apply on November 30, 1998. While the interim provisions of the Brady Law apply only to handguns, the permanent provisions of the Brady Law apply to all firearms.

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