The General Assembly Raised Bill No. 7042 aims to implement the Firearm Industry Responsibility Act, which establishes new legal standards for firearm industry members effective October 1, 2025. The bill defines key terms such as "firearm industry member," "firearm industry product," "firearm trafficker," and "reasonable controls." It mandates that firearm industry members must establish and enforce reasonable controls to prevent unlawful sales and ensure compliance with existing laws. Additionally, the bill prohibits advertising or marketing practices that could promote illegal use or sales of firearm products.

The bill also outlines the legal recourse available for individuals or municipalities harmed by violations of these provisions. It allows for civil actions to be brought against firearm industry members who fail to comply, with potential remedies including injunctive relief, compensatory and punitive damages, and civil penalties. The legislation emphasizes accountability within the firearm industry by creating a rebuttable presumption of negligence if a member's actions increase the risk of harm, thereby facilitating legal actions against those who do not adhere to the established controls.