This bill establishes new definitions and provisions related to data privacy in Nebraska. It defines key terms such as "cybersecurity event," "information system," "nonpublic information," "private entity," and "publicly available information." A cybersecurity event is characterized as an incident that leads to unauthorized access or disruption of an information system or the misuse of nonpublic information. The bill also outlines what constitutes nonpublic information, including personal identifiers like social security numbers and financial account details.

Additionally, the bill provides a legal exemption from liability for private entities in the event of a cybersecurity incident. Specifically, a private entity will not be held liable in a class action lawsuit resulting from a cybersecurity event unless it can be proven that the event was caused by willful, wanton, or gross negligence on the part of the entity. This provision aims to protect private organizations from excessive legal repercussions while encouraging them to maintain robust cybersecurity measures.