The bill seeks to enhance New Jersey's assault weapons ban by revising the definitions and classifications of firearms under N.J.S.2C:39-1. It expands the definition of "assault firearm" to include semi-automatic rifles, shotguns, and pistols that possess specific characteristics, such as the ability to accept a detachable magazine, folding or telescoping stocks, and modifications that increase lethality. Additionally, firearms equipped with bump stocks and those that can be easily assembled from parts are also classified as assault firearms. The bill aims to close existing loopholes in the law and improve public safety by limiting access to high-capacity and potentially dangerous weapons.

Moreover, the bill clarifies definitions for various firearms and ammunition types, including "armor piercing ammunition" and "undetectable firearms," while emphasizing stricter regulations on firearms that can be easily modified. It reduces the criteria for classifying a semi-automatic firearm as substantially identical to an enumerated firearm from two to one, thereby broadening the scope of what can be classified as an assault weapon. New criteria for classification include features like a thumbhole stock and additional grips, which are intended to enhance the state's regulatory capabilities regarding firearms that pose a risk to public safety. The bill is designed to take effect immediately upon passage.