Requiring the Secretary of State Police to issue, without investigation or further action,a handgun permit to retired law enforcement officers who so apply within 1 year after retirement; providing for an initial 4-year permit; providing for the renewal of a permit for 3 years; providing an exception for an officer convicted of a serious crime; requiring an officer to notify the Secretary of serious criminal charges or convictions; and requiring the Secretary to revoke a permit under specified circumstances.