This bill mandates the registration of data brokers with the Division of Consumer Affairs in New Jersey and prohibits the brokering of physical and behavioral health records. Data brokers, defined as businesses that collect and sell personal identifying information of individuals without a direct relationship, must register annually, pay a $100 fee, and provide specific information about their data collection practices, including opt-out policies and any history of data breaches. The Division will maintain a public registry that includes essential details about each data broker, which will be updated at least annually.

Additionally, the bill imposes civil penalties for non-compliance, including a $50 daily fine for failure to register or update required information, and a $1,000 penalty for each instance of selling or transmitting prohibited health records. Certain businesses, such as financial institutions and those whose data collection is incidental to specific activities, are exempt from being classified as data brokers under this legislation. Overall, the bill aims to enhance consumer protection regarding personal data and ensure transparency in data broker practices.