The bill introduces new criminal penalties in New Jersey for the sale and possession of machine gun conversion devices, defined as any device designed to modify a semiautomatic firearm to enable it to fire multiple rounds with a single trigger pull. It amends the existing definition of "machine gun" to include firearms equipped with such devices, thereby broadening the legal scope and increasing restrictions and penalties associated with these firearms. The bill establishes that possession of a machine gun conversion device is a third-degree crime, regardless of whether the individual possesses a firearm, and mandates that penalties for this offense run consecutively with those for possessing an assault firearm or machine gun.

In addition to addressing machine gun conversion devices, the bill criminalizes the manufacturing, transporting, selling, or disposing of these devices, categorizing these actions as third-degree crimes as well. The penalties for a third-degree crime include three to five years of imprisonment and fines up to $15,000. The legislation also enhances regulations on the possession of certain types of ammunition and firearm components, including hollow nose bullets and bump stocks, while providing exceptions for law enforcement and military personnel under specific circumstances. Overall, the bill aims to strengthen firearm regulations and improve public safety by addressing the risks associated with unregulated firearms and their modifications.