New Jersey Senate Bill S1866

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Prohibits use of new merchant category code by credit card companies for purchases of firearms and ammunitions.

Impact

The bill seeks to amend Title 2C of the New Jersey Statutes by ensuring that merchants selling firearms and ammunition are classified under general merchandise or sporting goods sellers, rather than under a separate category that could flag their transactions as suspicious. By doing so, it aims to protect law-abiding citizens from being monitored or categorized as potential offenders based purely on their legitimate purchases. Furthermore, it empowers the Department of Law and Public Safety to enforce compliance of this regulation, thereby discouraging punitive actions against firearms retailers by financial institutions.

Summary

Senate Bill S1866 aims to prohibit credit card companies from using a new merchant category code for transactions involving the purchase of firearms and ammunition. This legislative measure comes after the International Organization for Standardization approved a category code specifically for firearms and ammunition merchants, which proponents claim will help in identifying suspicious transactions and potentially reduce gun violence. However, the bill's sponsors argue that this categorization could inadvertently profile law-abiding gun owners and businesses, undermining their rights under the Second Amendment.

Contention

A significant point of contention surrounding S1866 is the debate over public safety versus individual rights. Proponents of the bill argue that the classification system could lead to unfair stigmatization of legal transactions and might even create an unofficial registry of gun owners, while critics contend that such measures are necessary for tracking potential threats and preventing gun violence. The bill raises questions about the appropriate extent of regulating financial transactions associated with firearms, especially in terms of who should police these activities—either government entities or private organizations.