Regulates data brokers and collection and dissemination of certain sensitive information.

1. **ONE-SENTENCE SUMMARY:** This bill regulates data brokers and sets rules for how sensitive information is collected and shared. 2. **KEY REQUIREMENTS:** - Register as a data broker if your business collects and sells personal information. - Provide clear disclosures to consumers about what data you collect and how it is used. - Allow consumers to opt-out of having their data sold or shared. - Implement reasonable security measures to protect sensitive information. 3. **DEADLINES:** - The bill will become effective 90 days after it is signed into law. - Businesses must comply with the requirements within 6 months of the effective date. 4. **PENALTIES:** - Fines for non-compliance can reach up to $10,000 per violation. - The state may also take enforcement actions against businesses that fail to adhere to the regulations. 5. **SMB IMPACT:** Small businesses that handle personal data will need to adjust their practices to comply with these regulations, which may involve additional administrative work and costs for data management and security. However, it can also enhance consumer trust by demonstrating a commitment to data protection.