The proposed legislation, known as the Social Media Parental Authorization Act, mandates that social media companies must obtain explicit parental authorization before allowing minors under the age of eighteen to create accounts on their platforms. The bill defines key terms such as "minor," "parental authorization," and "social media platform," and outlines the requirements for parental authorization, which can be either a written statement or a digital authorization verified by the social media company. Additionally, the bill stipulates that social media companies are prohibited from collecting or retaining any data related to minors without this authorization and must provide parents or guardians with access to their child's account for monitoring purposes.

The bill also establishes enforcement mechanisms, allowing the attorney general to pursue civil actions against companies that violate the law, with penalties of up to $1,000 per violation. Individuals harmed by violations can seek damages in district court, with potential awards including $10,000 for each violation or actual damages for harm caused. The attorney general is tasked with adopting rules to facilitate compliance with the new requirements, and the legislation applies to social media companies operating in Iowa after the bill's effective date.