This bill mandates that firearm wholesale and retail dealers provide customers with a written disclosure regarding their responsibilities related to lost or stolen firearms, as well as the legal implications of purchasing firearms with the intent to sell them unlawfully. The disclosure must be printed in block letters and signed by the purchaser or transferee, with a copy retained by the dealer for at least 15 years. Additionally, dealers are required to post the same disclosure prominently at each purchase counter.

The disclosure informs customers that they must report a lost or stolen firearm within 36 hours to the chief law enforcement officer of the relevant municipality or to the Superintendent of State Police if there is no local police force. Violations of this bill will result in civil penalties of up to $500 for first offenses and up to $1,000 for subsequent offenses, with penalties collected being directed to the Office of Attorney General for gun violence prevention efforts.