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SB24-066

Firearms Merchant Category Code

Concerning a requirement that certain businesses with relationships with firearms merchants use the appropriate merchant category code.
Session:
2024 Regular Session
Subject:
Business & Economic Development
Bill Summary

The bill requires certain networks that facilitate payment transactions to make the merchant category code for firearms and ammunition (code) available to merchant acquirers (processor) who process transactions for firearms merchants. A processor must assign the code to each firearms merchant to which the processor provides services.

The attorney general's office has exclusive authority to enforce the bill. Before bringing an enforcement action, the attorney general's office must notify in writing the person alleged to have violated the bill. Standards are set for the notice. A violator has 30 days to cure the violation in accordance with the standards in the bill.

If a person violates the bill and does not cure the violation, the attorney general's office may bring an action to seek:

  • A civil penalty of up to $10,000 for each violation; or
  • An injunction or equitable relief that prevents a further violation.

If the attorney general's office prevails in the action, a court may issue an order requiring the violator to pay reasonable attorney fees and costs incurred in bringing the action.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Under Consideration

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Bill Text

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