If enacted, HB3045 would significantly change the legal landscape regarding data privacy in the United States. It mandates that covered entities provide users with reasonable access and control over their data, including rights to correction, deletion, and portability of their information. This means that users must be able to request and receive information about who has accessed their data and for what purposes. Additionally, organizations would be required to protect data from unauthorized access and to notify users promptly in case of data breaches, increasing overall consumer protection.
Summary
House Bill 3045, also known as the 'You Own the Data Act' (YODA), seeks to affirm individuals' ownership of their personal data and to establish regulations regarding its collection and monetization. The bill makes it unlawful for entities to require the transfer or monetization of private data in exchange for services while prohibiting the collection of third-party contact information without written consent. These measures are aimed at empowering consumers to take control of their personal information in an increasingly digital world.
Contention
While the bill has garnered support for enhancing user rights and privacy, it has also raised concerns among businesses about the potential implications for the digital economy. Critics argue that stringent data protection measures could hinder innovation and impose greater compliance burdens on companies, particularly smaller ones that may not have the resources to implement the mandated changes effectively. The tension between consumer privacy and business interests is a notable point of contention surrounding this legislation.
Securing American Families and Enterprises from People's Republic of China Investments Act or the SAFE from PRC Investments Act This bill requires certain issuers of securities and funds traded on an exchange to report on connections to China or the Communist Party of China. In particular, an issuer with specified connections to China must annually disclose a variety of details, including whether executive-level employees, senior directors, or board members are members of the Communist Party of China; interactions with the party; expenditures in China; expenditures in the United States regarding operations and lobbying activities; and the ability of the Public Company Accounting Oversight Board to audit the issuer. Additionally, an exchange-traded fund that invests in a Chinese company must annually disclose about that company ownership information, party involvement, whether the company participates in specified Chinese policies or activities, any ties to U.S.-sanctioned individuals, and the types of products or services produced by the company.
Extinction Prevention Act of 2023 Southwest Desert Fish Conservation Fund Act of 2023 North America Butterfly Conservation Fund Act of 2023 Freshwater Mussel Conservation Fund Act of 2023 Pacific Islands Plant Conservation Fund Act of 2023
Extinction Prevention Act of 2023 Southwest Desert Fish Conservation Fund Act of 2023 North America Butterfly Conservation Fund Act of 2023 Freshwater Mussel Conservation Fund Act of 2023 Pacific Islands Plant Conservation Fund Act of 2023
Financial Exploitation Prevention Act of 2023 This bill addresses the redemption of securities involving the potential financial exploitation of an adult by allowing an open-end investment company to elect to comply with certain procedures. (Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds.) Specifically, the bill allows for the delay of the redemption of a security issued by an open-end investment management company if the company reasonably believes the redemption involves the financial exploitation of an individual age 65 or older or an individual age 18 or older who is unable to protect his or her own interests. The company may initially delay the redemption for up to 15 days and, upon making a determination of exploitation, may delay the redemption an additional 10 days. In the event of delay, the company must hold the amounts related to the redemption in a demand deposit account. Additionally, the Securities and Exchange Commission must make legislative and regulatory recommendations to address the financial exploitation of these adults.