Bill > A5328

This bill amends existing law to impose stricter regulations on how companies, referred to as "data brokers" (those who collect or buy personal data from consumers they don't have a direct relationship with and sell it) and "data collectors" (businesses that collect personal data from consumers they have a direct relationship with and sell it to data brokers), handle sensitive information. Key provisions include prohibiting data brokers and data collectors from selling or licensing "sensitive data," which is broadly defined to include information like racial or ethnic origin, health conditions, financial details, precise geolocation data, and data from known children, with certain exceptions for regulated entities like healthcare providers and financial institutions. The bill also requires data brokers and data collectors to register annually with the Division of Consumer Affairs, pay a fee based on the number of consumers whose data they handle, and disclose specific information about their data practices, including data breaches. Failure to comply can result in significant daily civil penalties, and selling sensitive data can lead to a penalty of $50,000 per record. The bill aims to enhance consumer privacy by adding these regulations to existing laws.