Bill > A5328

This bill amends existing New Jersey law to impose stricter regulations on how companies, referred to as "data brokers" and "data collectors," handle sensitive personal information. A "data broker" is defined as an entity that collects or buys personal data from consumers they don't have a direct relationship with and then sells or licenses that data to others. A "data collector" is a business that collects personal data from consumers with whom they have a direct relationship and then sells or licenses that data to a data broker. The bill specifically prohibits data brokers and data collectors from selling "sensitive data," which includes information like racial or ethnic origin, health conditions, financial details, precise location data, and data collected from children. It also requires data brokers and data collectors to register annually with the Division of Consumer Affairs, pay registration fees based on the number of consumers whose data they handle, and provide detailed information about their data collection and sales practices. Failure to comply can result in significant daily civil penalties, and selling sensitive data in violation of the law can lead to a penalty of $50,000 per record. The bill also clarifies that these new regulations are in addition to existing privacy laws.