Came across this on another forum.
http://www.toomey.senate.gov/?p=press_release&id=965
Bottom Line: The Public Safety and Second Amendment Rights Protection Act would require states and the federal government to send all necessary records on criminals and the violently mentally ill to the National Instant Criminal Background Check System (NICS). The bill extends the existing background check system to gun shows and online sales.
The bill explicitly bans the federal government from creating a national firearms registry, and imposes serious criminal penalties (a felony with up to 15 years in prison) on any person who misuses or illegally retains firearms records.