This bill mandates that by July 1, 2026, payment card networks must make available the merchant category code for firearms and ammunition businesses, as established by the International Organization for Standardization on September 9, 2022. Starting May 1, 2027, merchant acquirers are required to assign this code to firearms merchants. The bill defines key terms such as "firearms merchant," "merchant acquirer," and "payment card network," and clarifies that the Office of the Attorney General will have exclusive authority to enforce violations of this act.

In terms of enforcement, the Attorney General can initiate civil actions against individuals or entities that violate the provisions of the bill, with penalties including a $10,000 civil penalty for each violation, injunctive relief to prevent further violations, and the recovery of reasonable attorneys' fees and costs. Before taking action, the Attorney General must provide written notice of the violation, allowing the accused party 30 days to cure the violation. If the violation is remedied within this timeframe, no action will be taken against the individual or entity.