A bill to provide for a waiting period before the sale, delivery, or transfer of a handgun.

Amends the Federal criminal code to require a seven-day waiting period prior to the sale, delivery, or transfer of a handgun (during which time a sworn statement is sent to the chief law enforcement officer of the transferee's place of residence providing notice of the proposed transaction). Authorizes an alternative procedure to such requirement which permits waiving the seven-day waiting period if the transferee presents a certificate from such officer stating that access to a handgun is required because of threats to the transferee's life.

Sets forth: (1) certain reporting and recordkeeping requirements; and (2) criminal penalties for violations of this Act.