IL SB2360

Amends Illinois Criminal Code section 24-3 to exempt firearm exchanges from the mandatory waiting period requirement for delivery.

Eliminates the 72-hour waiting period for concealed firearms and 24-hour waiting period for rifles, shotguns, and long guns when an operable firearm is transferred in exchange for another operable firearm of the same category.

Defines the exchange exception as handgun-for-handgun trades or long gun-for-long gun trades, with "application" meaning when buyer and seller reach an agreement to purchase.

Takes effect immediately upon becoming law.