This bill establishes a tax on commercial data collectors based on the number of New Jersey consumers whose data they collect each month. The tax rates are tiered, starting at $0.05 per consumer for those collecting data on 1 million to 2 million consumers, and increasing to $2,250,000 plus $0.50 per consumer for those collecting data on 10 million or more consumers. The bill defines key terms such as "collect," "commercial data collector," and "consumer," and establishes a presumption that a consumer is a New Jersey resident if their data indicates a New Jersey address or IP address, which can be rebutted with evidence.

Additionally, the bill allocates the first $60 million in annual revenue from this tax to a special fund dedicated to supporting the 9-8-8 Suicide and Crisis Hotline. This fund will be used by the Department of Human Services for crisis intervention services and care coordination for individuals accessing the hotline. The bill also allows commercial data collectors to claim a credit for taxes paid to other states with similar tax laws. The provisions of the bill will take effect immediately, but the tax will not be implemented until regulations are adopted.