The "Stop Illegal Gun Trade and Extremely Dangerous Weapons Act" seeks to improve firearm safety and regulation in New Mexico through a series of stringent measures for firearm dealers. Key provisions include the requirement for dealers to implement security measures to prevent theft, maintain detailed transaction records, report thefts and multiple sales, and undergo periodic inspections. The act also establishes a minimum employment age of 21 for individuals handling firearms and mandates training on firearm laws and safety practices. Additionally, the bill prohibits the sale of certain firearms and devices classified as "extremely dangerous," such as .50 caliber rifles and detachable magazines with capacities exceeding ten rounds, effective July 1, 2026.

Moreover, the legislation emphasizes the necessity of background checks for most firearm transactions, including private sales, and requires the posting of informational signs at gun show entrances regarding legal implications for individuals with felony records and mental health resources. The bill introduces penalties for non-compliance, classifying violations as misdemeanors and imposing civil penalties ranging from $200 for first-time offenders to $1,000 for subsequent violations. Overall, the act aims to strengthen the regulatory framework surrounding firearms in New Mexico, reduce illegal gun trade, and enhance public safety.