Bill > HR7120

This bill, the Designing Accounting Safeguards to Help Broaden Oversight And Regulations on Data Act of 2022 or the DASHBOARD Act of 2022, requires commercial data operators (entities that generate a material amount of revenue from user data and have over 100 million monthly users) to provide regular assessments of the economic value of user data, disclose the types of user data collected, and allow users to delete their data. The Securities and Exchange Commission (SEC) is required to develop regulations and valuation methodologies for commercial data operators to disclose the aggregate value of user data they hold, and the bill mandates qualitative disclosures from these operators on user data protection, risks, and revenue sources. The SEC must also submit a report to Congress on the disclosure practices, valuation methodologies, and delivery methods of these disclosures, and then promulgate regulations implementing recommendations to improve the disclosure framework.