The "Stop Illegal Gun Trade and Extremely Dangerous Weapons Act" aims to enhance firearm safety and regulation in New Mexico by imposing stricter requirements on firearm dealers. Key provisions include the establishment of security measures to prevent theft, such as alarm systems and video surveillance, as well as the maintenance of detailed transaction records. Dealers are also required to report any thefts or multiple sales within specified timeframes, ensure that employees handling firearms are at least 21 years old, and undergo background checks and training. The act prohibits the sale of certain firearms and devices classified as "extremely dangerous," including .50 caliber rifles and high-capacity magazines.

Additionally, the bill mandates that dealers post specific legal and safety notices at points of purchase, including information on secure firearm storage and the legal implications for individuals with criminal records. It establishes penalties for non-compliance, including misdemeanor charges for knowingly falsifying compliance reports and civil penalties ranging from $200 for first-time violations to $1,000 for subsequent offenses. The legislation also includes a severability clause to maintain the enforceability of remaining provisions if any part of the act is found invalid. Overall, the act seeks to strengthen oversight of firearm sales and enhance public safety in New Mexico.