The bill introduces a new crime in New Mexico, specifically addressing the unlawful possession of a weapon conversion device. This new section of law defines unlawful possession as knowingly having or transporting a weapon conversion device, which is characterized as a part or combination of parts intended to convert a semiautomatic weapon into a fully automatic weapon. Each instance of possession is treated as a separate offense, and individuals found guilty of this crime will face penalties classified as a third degree felony.

Additionally, the bill provides definitions for key terms, including "fully automatic weapon" and "semiautomatic weapon," to clarify the scope of the law. The enactment of this legislation aims to enhance public safety by regulating the possession of devices that can modify firearms, thereby addressing concerns related to gun violence and illegal weapon modifications.