1. Short title This Act may be cited as the Firearm Risk Protection Act of 2017 . 2. Prohibitions on sale of firearm to, and purchase of firearm by, a person not covered by appropriate liability insurance (a) Prohibitions Section 922 of title 18, United States Code, is amended by adding at the end the following: (aa) (1) (A) (i) It shall be unlawful for a person to purchase a firearm unless, at the time of the purchase, the purchaser presents to the seller proof that the purchaser is covered by a qualified liability insurance policy. (ii) It shall be unlawful for a person to sell a firearm unless, at the time of the sale, the seller verifies that the purchaser is covered by a qualified liability insurance policy. (iii) It shall be unlawful for a person who owns a firearm purchased on or after the effective date of this subsection not to be covered by a qualified liability insurance policy. (B) Subparagraph (A) shall not apply to the purchase or sale of a firearm for the use of the United States or any department or agency of the United States, or any State or any department, agency, or political subdivision of a State. (2) In paragraph (1), the term qualified liability insurance policy means, with respect to the purchaser of a firearm, a policy that— (A) provides liability insurance covering the purchaser specifically for losses resulting from use of the firearm while it is owned by the purchaser; and (B) is issued by an insurer licensed or authorized to provide the coverage by the State insurance regulatory authority for the State in which the purchaser resides. . (b) Penalty Section 924 of such title is amended by adding at the end the following: (q) Whoever violates section 922(aa) shall be fined not more than $10,000. . (c) Effective date The amendments made by this section shall apply to conduct engaged in after the 180-day period that begins with the date of the enactment of this Act.