The "Responsibility in Firearms Sales Act" (RIFS Act) seeks to enhance public health and safety in New Jersey by imposing stricter regulations on firearm manufacturers and retailers. Under this bill, all firearms manufacturers must obtain an annual license from the Superintendent of State Police before they can manufacture or sell firearms at wholesale. Retail dealers are prohibited from selling firearms unless the manufacturer holds a valid license. The bill establishes a fee structure for licensing based on public health costs related to firearm injuries, with an initial cap of $866 million for the first year. Additionally, it creates a public online registry of licensed manufacturers to ensure compliance among retail dealers.

The RIFS Act also empowers the Attorney General to investigate violations and impose significant civil penalties for non-compliance, with manufacturers facing fines of up to $1 million per month and retailers up to $10,000 per violation. Fees and penalties collected will be directed to the Responsibility in Firearm Sales Fund (RIFS Fund), which will provide compensation to victims of firearm-related injuries or deaths. The bill broadens the definition of eligible victims and allows for compensation without a monetary cap, although it includes provisions for pro-rata reductions if claims exceed available funds. Overall, the legislation aims to mitigate the economic impact of firearm violence and improve public safety through enhanced accountability measures for firearm sales.