Youth Revenue Transparency Act

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.