IL SB3737

Reduces the reporting deadline for lost or stolen firearms from 72 hours to 48 hours after the owner discovers the loss or theft, and increases penalties from a petty offense to a Class A misdemeanor for first violation and to a Class 4 felony for subsequent violations.

Requires the Illinois State Police to include written notice in both English and Spanish on the Internet-based FOID card validity system and on all firearm card issuances and renewals informing owners of the 48-hour reporting obligation.

Creates an electronic portal within one year of enactment for law enforcement and prosecutors to report individuals who fail to report lost or stolen firearms, and authorizes the State Police to deny or revoke FOID cards for failure to report within 48 hours.

Modifies criminal statutes for possession of stolen firearms and firearms trafficking to include "reasonably should know" standard and allow inference of knowledge when firearms have serial numbers listed on the State Police's publicly accessible stolen firearm database.

Requires certified firearm dealers to notify purchasers orally and in writing in both English and Spanish of the 48-hour reporting requirement and to provide a written notice created by the Illinois State Police.