IL SB1277

Amends the Criminal Code of 2012 to increase penalties for failing to report lost or stolen firearms within 72 hours to local law enforcement.

Changes first violation penalty from petty offense to Class A misdemeanor for valid Firearm Owner's Identification Card holders who fail to report a lost or stolen firearm.

Changes second or subsequent violation penalty from Class A misdemeanor to Class 4 felony.

Requires law enforcement to take written reports and enter stolen firearm serial numbers into the Law Enforcement Agencies Data System (LEADS) as soon as practical.

Provides exemptions from reporting requirements if failure is due to act of God, act of war, inability of law enforcement to receive report, hospitalization, serious physical or mental impairment, or if a designee makes the report.