Congress passed the Brady Handgun Violence Prevention Act in 1993. The legislation is commonly called the Brady Bill and was introduced by then-U.S. Rep. Charles Schumer. The bill requires federally licensed dealers to conduct background checks on gun buyers, but exempts private sales. The Brady Bill also established the National Instant Criminal Background Check System (NICS).
The law also imposes a waiting period of five days before a licensed importer, manufacturer or dealer may sell, deliver or transfer a handgun to an unlicensed individual. The waiting period applies only in states without an acceptable alternate system of conducting background checks on handgun purchasers.