This bill amends New Jersey's firearm transfer laws by requiring that all transactions involving handguns and certain long guns between individuals who are not licensed retail dealers must be conducted through a licensed retail firearm dealer. It specifically eliminates the previous exemption that allowed transfers between immediate family members without dealer involvement. This change is intended to enhance oversight and ensure that all firearm transactions are subject to the necessary background checks and record-keeping requirements mandated for retail dealers. The bill also maintains existing provisions for transactions involving law enforcement officers, collectors of curios and relics, and temporary transfers under specific circumstances.

Additionally, the bill removes the legal definition of "immediate family," which previously included a spouse, domestic partner, civil union partner, and various relatives by blood or law. By mandating that all firearm transfers go through a licensed dealer, the bill aims to strengthen regulation and oversight of firearm transactions. Non-compliance with this requirement will be classified as a fourth-degree crime, punishable by up to 18 months in prison and/or a fine of up to $10,000. The act is set to take effect immediately upon passage.