IL HB1062

Requires mandatory revocation of a person's Firearm Owner's Identification (FOID) Card upon conviction of a third or subsequent violation of the requirement to report lost or stolen firearms to local law enforcement within 72 hours

First violation of failing to report a lost or stolen firearm remains a petty offense; second or subsequent violations remain a Class A misdemeanor

Adds the third-violation FOID revocation as a new ground for denial or revocation under the Firearm Owners Identification Card Act

Amends both the Criminal Code of 2012 (Section 24-4.1) and the Firearm Owners Identification Card Act (Section 8) to implement these changes

Takes effect immediately upon becoming law