Creates an excise tax on the collection of consumer data by commercial data collectors.

1. **ONE-SENTENCE SUMMARY:** This bill proposes an excise tax on businesses that collect consumer data. 2. **KEY REQUIREMENTS:** - If your business collects consumer data, you will be subject to an excise tax. - You must keep accurate records of the consumer data you collect. 3. **DEADLINES:** - The effective date of the tax will be determined once the bill passes. - Compliance deadlines will be outlined in the final legislation. 4. **PENALTIES:** - Businesses that fail to comply with the tax requirements may face fines. - Enforcement mechanisms will be established by state authorities. 5. **SMB IMPACT:** Small businesses that collect consumer data will need to budget for this new tax, which could affect their profitability. Additionally, they will need to ensure they have proper record-keeping practices in place to comply with the law.