IL SB2635

Amends the Criminal Code of 2012, Section 24-3 (unlawful sale or delivery of firearms) by adding an exemption to the waiting period requirement for firearm transfers.

The waiting period (72 hours for handguns, 24 hours for long guns/stun guns) does not apply to transfers of an operable firearm in exchange for another operable firearm of the same type (handgun for handgun or long gun for long gun).

Defines "another operable firearm" as any operable handgun exchanged for any operable handgun or any operable long gun exchanged for any operable long gun.

Takes effect immediately upon becoming law.