The proposed legislation aims to enhance public safety by imposing specific responsibilities on members of the firearm industry, including those involved in the sale, manufacturing, distribution, importing, or marketing of firearms and related products. It mandates these industry members to adopt reasonable controls to prevent the diversion of firearms to unauthorized individuals, including straw purchasers and firearm traffickers. The bill also prohibits the creation or maintenance of public nuisances by these members and establishes a framework for investigation and enforcement by the attorney general. Additionally, it creates a private right of action for individuals harmed by violations of this law, allowing them to seek remedies such as compensatory and punitive damages.

Key provisions of the bill include the definition of terms such as "firearm industry member," "firearm trafficker," and "reasonable controls," which outline the responsibilities of industry members to prevent illegal sales and ensure compliance with state and federal laws. The legislation emphasizes that violations constitute a public nuisance and allows the attorney general to pursue legal action against offenders, including seeking punitive damages. Furthermore, individuals harmed by the actions of firearm industry members can file lawsuits and seek various forms of relief. The act is officially titled the "firearm industry responsibility and gun violence victims' access to justice act," and it includes a severability clause to ensure that if any part of the act is deemed invalid, the remaining provisions will still stand.