Senate Substitute for HB 2501 by Committee on Federal and State Affairs - Providing for immunity from civil liability to federal firearms licensees for returning a firearm to the firearm owner at the termination of a firearm hold agreement, removing the criminal prohibition against firearm suppressors and shotgun barrel length qualification requirements and providing enhanced penalties for certain felonies committed while using a firearm suppressor or short-barrel shotgun.

Added a new definition for 'firearm hold agreement' that explicitly covers situations where an owner abandons a firearm, triggering state laws on abandoned property.

Added a new definition for 'municipality' to clarify which local governments are covered by the bill's preemption rules.

Required firearm owners to provide the make, model, and serial number of the firearm and to list an emergency contact person for the owner.

Mandated that dealers must destroy all records related to firearm hold agreements within 90 days of the agreement ending, unless federal law requires them to keep them.

Clarified that dealers must return the firearm without delay and without extra fees if the owner is legally allowed to possess it.

Granted immunity from civil liability to firearm owners who use the storage service, protecting them from lawsuits related to injuries or deaths that might occur when the firearm is returned.

Preempted local laws that require gun dealers to accept firearms for storage, giving dealers the right to refuse the service.