Bill > S3706

This bill requires payment card networks and merchant acquirers to use a specific merchant category code (MCC) for businesses that primarily sell firearms, firearm accessories, and ammunition, as established by the International Organization for Standardization (ISO) on September 9, 2022. Starting May 1, 2027, merchant acquirers must assign this specific code to firearms merchants located in the state. The bill grants the New Jersey Attorney General exclusive enforcement authority, with the ability to bring civil actions against violators. Penalties for non-compliance include a $10,000 civil penalty for each violation, potential injunctive relief, and attorney's fees. Before taking legal action, the Attorney General must provide a 30-day notice allowing the business to cure the violation by addressing the issue, providing documentation, and updating internal policies to prevent future violations. The bill defines key terms such as "firearms merchant" as a business primarily selling firearms, accessories, or ammunition, and establishes clear guidelines for implementation, with the act taking effect immediately upon passage.

Budget and Finance, Justice

https://www.njleg.state.nj.us/bill-search/2024/S3706