ASSEMBLY JUDICIARY COMMITTEE
STATEMENT TO
ASSEMBLY, No. 5345
with committee amendments
STATE OF NEW JERSEY
DATED: FEBRUARY 20, 2025
The Assembly Judiciary Committee reports favorably and with committee amendments Assembly Bill No. 5345.
This bill requires payment card networks to make the merchant category code available for merchant acquirers that provide payment services for firearms merchants, and further requires those merchant acquirers to use the code for firearms and ammunition businesses established by the International Organization for Standardization.
As amended, the bill defines “firearms merchant” as a business in this State for which the highest sales value is, or is expected to be, from the combined sale in this State, including online sales, of firearms, firearm accessories, or ammunition, as stated by the business to its merchant acquirer in the ordinary course of business. Under the bill, the term “merchant acquirer” means an entity that establishes a relationship with a merchant for the purposes of processing credit, debit, or prepaid transactions.
The bill authorizes the Attorney General to bring a civil action to enforce the provisions of the bill against any person that violates the provisions of the bill and who does not cure the violation. A person determined by a court to have violated the provisions of the bill is subject to:
(a) a civil penalty in the amount of $10,000 for each violation;
(b) injunctive relief sufficient to prevent the person from further violations; and
(c) reasonable attorney’s fees and costs incurred in investigating and bringing an action pursuant to the bill.
COMMITTEE AMENDMENTS:
The committee amended the bill to clarify that a “firearms merchant” means “a business in this State for which the highest sales value is, or is expected to be, from the combined sale in this State, including online sales, of firearms, firearm accessories, or ammunition, as stated by the business to its merchant acquirer in the ordinary course of business.”