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Protecting Sensitive Personal Data Act of 2023

1/31/2024, 4:45 AM

Summary of Bill S 2947

Bill 118 s 2947, also known as the Protecting Sensitive Personal Data Act of 2023, is a piece of legislation introduced in the US Congress aimed at enhancing the protection of individuals' personal data. The bill seeks to address growing concerns about data privacy and security in the digital age.

The main provisions of the bill include requiring companies that collect and store personal data to implement robust security measures to safeguard this information from unauthorized access or misuse. It also mandates that individuals be notified in the event of a data breach that compromises their personal information.

Additionally, the bill establishes guidelines for the collection, use, and sharing of personal data by companies, with a focus on transparency and accountability. It requires companies to obtain explicit consent from individuals before collecting their data and to provide clear information about how this data will be used. Furthermore, the bill includes provisions for the Federal Trade Commission (FTC) to enforce compliance with these regulations and to impose penalties on companies that fail to adequately protect personal data. It also empowers individuals to take legal action against companies that violate their privacy rights. Overall, the Protecting Sensitive Personal Data Act of 2023 aims to strengthen data privacy protections for individuals and hold companies accountable for how they handle personal information. It represents a significant step towards addressing the challenges posed by the increasing digitization of personal data in today's society.

Congressional Summary of S 2947

Protecting Sensitive Personal Data Act of 2023

This bill expands the covered transactions that are subject to the review of the Committee on Foreign Investment in the United States (CFIUS), which analyzes the national security implications of foreign investment in the United States. Specifically, CFIUS may require declarations for foreign investments in U.S. businesses that maintain or collect sensitive personal data of U.S. citizens that may be exploited to threaten national security.

Current Status of Bill S 2947

Bill S 2947 is currently in the status of Bill Introduced since September 27, 2023. Bill S 2947 was introduced during Congress 118 and was introduced to the Senate on September 27, 2023.  Bill S 2947's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of September 27, 2023

Bipartisan Support of Bill S 2947

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
2
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 2947

Primary Policy Focus

Foreign Trade and International Finance

Alternate Title(s) of Bill S 2947

Protecting Sensitive Personal Data Act of 2023
Protecting Sensitive Personal Data Act of 2023
A bill to expand the transactions for which declarations may be required by the Committee on Foreign Investment in the United States to include investments in United States businesses that maintain or collect sensitive personal data.

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