This is yet another example of how the Brady campaign is trying to take your gun rights away. On July 14 HR 5736 was introduced by the legislature of New York and of course the Brady bunch. It is apparent the referenced Chapter and title of US code was not even read by the constructs of this proposed law. This is an attack on law abiding citizens and does nothing for unlawful possession, and is practically impossible to enforce. You see, interstate or foreign commerce is defined as

"commerce between any place in a State and any place outside of that State, or within any possession of the United States (not including the Canal Zone) or the District of Columbia, but such term does not include commerce between places within the same State but through any place outside of that State.
The term "State" includes the District of Columbia, the Commonwealth of Puerto Rico, and the possessions of the United States (not including the Canal Zone)."

Cite: Chapter 44 Title 18 section 921 (2)

So as long as you have purchased your firearm within the state this proposed law cannot be applied to you. Additionally there are an uncounted number of firearms that are not serialized and are not traceable. How would this law apply to states that do not register firearms such as Washington? Will this require a database of registered fire arms to be established?

If this bill passes and you knowingly violate this proposed law you may face fines of not more than $1,000 under this title, imprisoned for not more than 1year, or both.
Cite: Chapter 44 Title 18 section 922

Read the bill and see the sponsors and co sponsors for yourself. Come on New York let your legislature hear from you.