This bill mandates that any business entity utilizing text-based chat for communication with consumers must provide an option for the consumer to receive a transcript of the chat at the end of the interaction. The bill defines key terms such as "business entity," "chat," and "transcript," and emphasizes the requirement for businesses to give clear and conspicuous notice to consumers about this option at the beginning of the chat.

Additionally, the bill stipulates that failing to comply with these provisions constitutes an unlawful practice under New Jersey's consumer fraud act, which can result in significant penalties. First-time offenders may face fines up to $10,000, while subsequent violations could incur fines of up to $20,000. The Attorney General is also empowered to issue cease and desist orders, and affected consumers may be entitled to punitive damages, treble damages, and recovery of costs. The act is set to take effect immediately upon passage.