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  1. Abstract We present the active galactic nucleus (AGN) catalog and optical spectroscopy for the second data release of the Swift BAT AGN Spectroscopic Survey (BASS DR2). With this DR2 release we provide 1449 optical spectra, of which 1182 are released for the first time, for the 858 hard-X-ray-selected AGNs in the Swift BAT 70-month sample. The majority of the spectra (801/1449, 55%) are newly obtained from Very Large Telescope (VLT)/X-shooter or Palomar/Doublespec. Many of the spectra have both higher resolution ( R > 2500, N ∼ 450) and/or very wide wavelength coverage (3200–10000 Å, N ∼ 600) that are important for a variety of AGN and host galaxy studies. We include newly revised AGN counterparts for the full sample and review important issues for population studies, with 47 AGN redshifts determined for the first time and 790 black hole mass and accretion rate estimates. This release is spectroscopically complete for all AGNs (100%, 858/858), with 99.8% having redshift measurements (857/858) and 96% completion in black hole mass estimates of unbeamed AGNs (722/752). This AGN sample represents a unique census of the brightest hard-X-ray-selected AGNs in the sky, spanning many orders of magnitude in Eddington ratio ( L / L Edd = 10 −5 –100), black hole mass ( M BH = 10 5 –10 10 M ⊙ ), and AGN bolometric luminosity ( L bol = 10 40 –10 47 erg s −1 ). 
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  2. Context. The M BH – σ ⋆ relation is considered a result of coevolution between the host galaxies and their supermassive black holes. For elliptical bulge hosting inactive galaxies, this relation is well established, but there is still discussion concerning whether active galaxies follow the same relation. Aims. In this paper, we estimate black hole masses for a sample of 19 local luminous active galactic nuclei (AGNs; LLAMA) to test their location on the M BH – σ ⋆ relation. In addition, we test how robustly we can determine the stellar velocity dispersion in the presence of an AGN continuum and AGN emission lines, and as a function of signal-to-noise ratio. Methods. Supermassive black hole masses ( M BH ) were derived from the broad-line-based relations for H α , H β , and Pa β emission line profiles for Type 1 AGNs. We compared the bulge stellar velocity dispersion ( σ ⋆ ) as determined from the Ca II triplet (CaT) with the dispersion measured from the near-infrared CO (2-0) absorption features for each AGN and find them to be consistent with each other. We applied an extinction correction to the observed broad-line fluxes and we corrected the stellar velocity dispersion by an average rotation contribution as determined from spatially resolved stellar kinematic maps. Results. The H α -based black hole masses of our sample of AGNs were estimated in the range 6.34 ≤ log M BH  ≤ 7.75 M ⊙ and the σ ⋆CaT estimates range between 73 ≤  σ ⋆CaT  ≤ 227 km s −1 . From the so-constructed M BH  −  σ ⋆ relation for our Type 1 AGNs, we estimate the black hole masses for the Type 2 AGNs and the inactive galaxies in our sample. Conclusions. We find that our sample of local luminous AGNs is consistent with the M BH – σ ⋆ relation of lower luminosity AGNs and inactive galaxies, after correcting for dust extinction and the rotational contribution to the stellar velocity dispersion. 
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