Requires payment card networks to use certain merchant category-codes for firearm dealers

This law requires payment card networks and merchants to use specific standardized codes to identify businesses that sell firearms and ammunition in New York. Starting in May 2025, these codes must be assigned to licensed gun dealers and ammunition sellers to ensure their transactions are properly categorized. The bill establishes a penalty system where the Attorney General can issue fines of up to $10,000 per violation if a company fails to use the correct codes after receiving a warning. This change aims to improve how financial transactions involving gun sales are tracked and reported across the state.