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 encompass not only specific models but also any firearm that is substantially identical to those listed. The bill introduces new criteria for classification, including features such as the ability to accept a detachable magazine, a thumbhole stock, and a second handgrip or protruding grip. Additionally, it reduces the number of criteria required for a firearm to be classified as an assault weapon from two to one, thereby broadening the scope of firearms that fall under this classification.

Moreover, the bill clarifies various terms related to firearms, including "large capacity ammunition magazine," "bump stock," and "trigger lock," while emphasizing the regulation of firearms that can be easily modified into assault weapons. This comprehensive approach aims to enhance public safety by reducing the availability of high-capacity and potentially dangerous firearms in New Jersey. The proposed changes are set to take effect immediately upon passage.