The proposed legislation, known as the Social Media Parental Authorization Act, mandates that social media companies must obtain explicit parental authorization before allowing minors, defined as individuals under the age of eighteen residing in Iowa, to create accounts on their platforms. Parental authorization can be provided through a written statement or a digital authorization verified by the social media company. The bill also stipulates that companies cannot collect or retain any data related to minors without this authorization and must provide parents or guardians with access to the minor's account, enabling them to monitor posts, messages, and account settings.

Additionally, the bill empowers the attorney general to enforce compliance by bringing civil actions against companies that violate its provisions, with penalties of up to $1,000 per violation. Individuals harmed by such violations can also pursue civil actions in district court, potentially receiving damages of at least $10,000 or actual damages for any harm suffered. The attorney general is tasked with establishing rules to facilitate compliance with the parental authorization requirements, and the act applies to social media companies operating in Iowa after its effective date.