This bill mandates that any business entity utilizing text-based chat for communication with consumers must provide an option for the consumer to receive a transcript of the chat at the end of the interaction. The bill defines key terms such as "business entity," "chat," and "transcript," and requires that businesses give clear and conspicuous notice to consumers about this option at the beginning of the chat.

Violations of this requirement are classified as unlawful practices under New Jersey's consumer fraud act, which can lead to significant penalties, including monetary fines of up to $10,000 for first offenses and $20,000 for subsequent offenses. Additionally, the Attorney General may issue cease and desist orders, and affected consumers may be entitled to punitive damages, treble damages, and recovery of costs. The bill is set to take effect immediately upon passage.