This bill mandates that payment card networks must make available a specific merchant category code for firearms and ammunition businesses, as established by the International Organization for Standardization on September 9, 2022. By July 1, 2026, these networks are required to provide this code to merchant acquirers that service firearms merchants, and starting May 1, 2027, merchant acquirers must assign this code to firearms merchants. The bill defines key terms such as "firearms merchant," "merchant acquirer," and "payment card network," clarifying the roles and responsibilities of each entity involved in the transaction process.

The bill also grants the Attorney General exclusive authority to enforce its provisions, allowing for civil actions against individuals or entities that violate the law. If a violation occurs and is not cured within a specified timeframe, the violator may face a civil penalty of $10,000 for each infraction, along with potential injunctive relief and the obligation to cover reasonable attorney fees and costs associated with the enforcement action. The Attorney General must provide written notice of any violations before taking action, allowing the violator a chance to remedy the situation within 30 days.