CHICAGO (CBS) — For the first time in Illinois history there are new rules in place for gun buyers and owners.

CBS 2’s Chris Martinez reports the new law is all about keeping track of weapons lost by or stolen from gun owners.

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Police say those are often the weapons used in deadly shootings across the city.

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Effective Sunday, the law requires gun owners to report a weapon that’s either lost or stolen within 72 hours. The governor’s action comes in the midst of another violent weekend. Just since Friday night, at least four people were shot dead in Chicago and just more than two dozen others wounded.

“When someone breaks into your home or your vehicle and steals a firearm there’s a very good likelihood they’re going to do something illegal with that gun,” said Hiram Grau, Illinois State Police Director.

“It’s important that we really have a federal standard ultimately but you gotta start somewhere and that’s why our state passed this law regarding lost and stolen,” said Quinn.

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The law also closes a loophole in the state’s background check requirements. It requires background checks for the sale or transfer of a firearm by a private party, starting Jan. 1, 2014.