The legislation is largely based on a bill introduced earlier this year by Leahy and one Gillibrand has been working on for the past four years. It cracked down on both the sale and purchase of guns likely to be used in crimes and lowered the mens rea threshold for prosecuting offenses. Sellers and purchasers can be found guilty if they think — instead of know — the firearms will be used in crimes.
I think that this is intended to give legitimate gun owners cold feet regarding face to face gun sales. If you sell a gun that has any documentation attaching it to your name, and then 5-10 years down the line it somehow finds itself used during a crime, or in possession of someone during a drug raid or a stop and frisk in NY, YOU are going to get prosecuted. That's what this sounds like....
NO GOOD will come from this.