The bill introduces new criminal penalties in New Jersey for the sale and possession of machine gun conversion devices, which are 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 a trigger crank or a machine gun conversion device, thereby broadening the legal scope and increasing restrictions and penalties associated with these firearms. Possession of a machine gun is classified as a second-degree crime, while possession of a machine gun conversion device is categorized as a third-degree crime, with penalties running consecutively for those who also possess an assault firearm or machine gun.

Additionally, the bill criminalizes the manufacturing, transporting, selling, or disposing of machine gun conversion devices, also classifying these actions as third-degree crimes. The penalties for these offenses include three to five years in prison and fines up to $15,000. The legislation aims to enhance public safety by tightening regulations on potentially dangerous weapons and ensuring compliance with state laws regarding firearms and their components.