CA SB1366

Requires all firearm owners to report theft or loss to local law enforcement within 48 hours of discovery, effective January 1, 2013, with exceptions for law enforcement, military, licensed federal dealers, and firearms lost/stolen before the effective date.

Establishes penalties for failure to report: $100 fine for first violation, $1,000 fine for second violation, and up to 6 months jail and/or $1,000 fine for third or subsequent violations.

Makes it a misdemeanor to file a false report of a lost or stolen firearm.

Requires sheriffs and police chiefs to submit descriptions of reported lost or stolen firearms to the Department of Justice automated property system.

Mandates that licensed firearm dealers post a warning in block letters within their premises notifying customers of the 48-hour reporting requirement for lost or stolen firearms.