Youth Revenue Transparency Act

Hozzl · 2024-11-27T12:37:08Z

Explore the details of Senate Bill 5337 Youth Revenue Transparency Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

11/27/2024, 12:37 PM

Summary of Bill S 5337

Bill 118 s 5337, also known as the "Social Media Revenue Disclosure Act," aims to amend the Securities Exchange Act of 1934 to mandate that social media companies disclose the gross revenues generated from transactions involving individuals under the age of 21. The bill seeks to increase transparency and accountability within the social media industry by shedding light on the financial impact of younger users on these platforms.

Under this proposed legislation, social media companies would be required to provide detailed information on the revenue generated from transactions involving individuals who are younger than 21 years old. This disclosure would help policymakers, parents, and the public better understand the financial implications of targeting and engaging with younger users on social media platforms.

In addition to requiring revenue disclosure, the bill also aims to address other purposes related to the regulation of social media companies. While the specifics of these additional purposes are not outlined in the summary, it is clear that the primary focus of the bill is on increasing transparency around the financial interactions between social media companies and young users. Overall, the Social Media Revenue Disclosure Act represents a significant step towards holding social media companies accountable for their financial practices, particularly in relation to younger users. By requiring these companies to disclose their revenues from transactions involving individuals under 21, the bill aims to provide greater insight into the economic impact of youth engagement on social media platforms.

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Current Status of Bill S 5337

Bill S 5337 is currently in the status of Bill Introduced since November 18, 2024. Bill S 5337 was introduced during Congress 118 and was introduced to the Senate on November 18, 2024. Bill S 5337's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of November 18, 2024

Bipartisan Support of Bill S 5337

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 5337

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 5337

A bill to amend the Securities Exchange Act of 1934 to require social media companies to disclose the gross revenues from transactions involving individuals who are younger than 21 years of age, and for other purposes.A bill to amend the Securities Exchange Act of 1934 to require social media companies to disclose the gross revenues from transactions involving individuals who are younger than 21 years of age, and for other purposes.

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Sponsors and Cosponsors of S 5337

George S. Helmy

New Jersey(Independent)

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