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 requires that businesses give clear and conspicuous notice to consumers about this option at the beginning of the chat.

Furthermore, the bill stipulates that failing to comply with these requirements constitutes an unlawful practice under New Jersey's consumer fraud act, which can lead to significant penalties. First-time offenders may face fines up to $10,000, while repeat offenders could incur fines of up to $20,000. Additional consequences for violations may include cease and desist orders from the Attorney General, punitive damages, and the possibility of treble damages and costs awarded to the injured party. The act is set to take effect immediately upon passage.