Provides relative to business filings with the secretary of state. (2/1/17)
If enacted, SB 23 would revise existing public records laws by incorporating a specific exception for the confidentiality of NAICS codes submitted to the secretary of state. By limiting the disclosure of this information, the bill seeks to bolster the privacy of business entities and reduce unnecessary public access to potentially sensitive operational data. It allows NAICS codes to be disclosed solely to governmental agencies in the course of their functions, thereby safeguarding businesses from potential misuse of their classification information.
Senate Bill 23, introduced by Senator Martiny, addresses the registration and filings of business entities with the secretary of state, specifically concerning the disclosure of North American Industry Classification System (NAICS) codes. The bill mandates that all entities submitting business filings must include their corresponding NAICS codes. Furthermore, the bill establishes confidentiality for these codes, ensuring they are not disclosed by the secretary of state or other state employees, except for governmental purposes. This legislation aims to protect sensitive business information while streamlining business registration processes.
The general sentiment surrounding SB 23 is largely supportive among business advocates who see the value in protecting proprietary information. Proponents argue that this measure aligns with modern data protection standards and promotes business integrity. However, there may be concerns from transparency advocates who might argue that increased confidentiality could limit public oversight and accountability regarding business activities. The debate reflects a tension between privacy for businesses and the public's right to access information.
One notable point of contention involves the balance between governmental transparency and business confidentiality. Critics may express that while protecting business information is essential, excessive confidentiality could hinder the public's ability to monitor industry practices and ensure compliance with state regulations. Policymakers will need to navigate these concerns to determine the appropriate level of confidentiality without compromising the public interest.