This bill mandates that payment card networks must provide the merchant category code for firearms and ammunition businesses, as established by the International Organization for Standardization on September 9, 2022, to merchant acquirers that service firearms merchants by July 1, 2026. Furthermore, starting May 1, 2027, merchant acquirers are required to assign this specific merchant category code to firearms merchants. The bill defines key terms such as "firearms merchant," "merchant acquirer," and "payment card network," establishing a clear framework for compliance.

The enforcement of this bill is exclusively under the authority of the Attorney General, who can initiate civil actions against violators. If a court finds a person in violation, they may face a civil penalty of $10,000 for each infraction, along with injunctive relief to prevent future violations and reimbursement for reasonable attorney fees and costs. However, the Attorney General must provide written notice of the violation at least 30 days prior to taking action, allowing the accused party an opportunity to rectify the issue.