This legislation requires the Attorney General to submit an annual report to Congress detailing the Bureau of Alcohol, Tobacco, Firearms and Explosives' (ATF) actions concerning Federal Firearm Licenses (FFLs). The report must include the number of inspections conducted, instances where serious violations were identified, and the number of licenses revoked, not renewed, or surrendered. It also mandates the disclosure of specific information for each such licensee, including their name, location, and the identified serious violation. Furthermore, the annual report must detail cases where serious violations were found but the license was not revoked, providing reasons for such decisions, including the Attorney General's discretion, reversals after hearings, or court orders. It also requires geographical breakdowns of enforcement actions, such as reasons for not pursuing revocation and the issuance of warning letters or conferences. This information is to be published on the ATF website for public access. In addition to the annual report, the bill directs the Comptroller General of the United States (GAO) to conduct a comprehensive study on the effectiveness of ATF's operations and procedures for issuing, investigating, and revoking FFLs. This study will examine potential systemic failures in enforcement, the Attorney General's use of discretion in not revoking licenses despite willful violations, and geographic variations in enforcement. The GAO's report to Congress will also analyze the outcomes of revocation proceedings and the oversight of licensees during such processes.