This bill mandates that firearm wholesale and retail dealers provide customers with a written disclosure regarding their responsibilities related to lost or stolen firearms, as well as the legal implications of purchasing firearms with the intent to sell to disqualified individuals. The disclosure must be printed in block letters and signed by the purchaser or transferee, with a copy retained by the dealer for at least 15 years. Additionally, dealers are required to post the same information conspicuously at each purchase counter.

Violations of this bill will result in civil penalties, with fines of up to $500 for first offenses and up to $1,000 for subsequent offenses. These penalties will be enforced through the municipal court system, and all collected fines will be directed to the Office of Attorney General for gun violence prevention initiatives. The bill aims to enhance accountability among firearm dealers and promote responsible firearm ownership.