The bill amends the Business & Commerce Code to enhance the notice requirements for data brokers regarding their registration statements and online presence. Specifically, it mandates that data brokers who maintain an Internet website or mobile application must post a conspicuous notice indicating their status as a data broker, ensuring that the notice is clear, accessible, and includes language provided by the secretary of state. Additionally, the notice must inform consumers about their rights under Chapter 541. The bill also introduces a requirement for the registration statement to include a link to a webpage that provides consumers with specific instructions on exercising their data privacy rights.

Furthermore, the bill specifies that the registration statement must contain detailed information about the data broker, including their legal name, contact information, and a description of the data categories processed. It also requires data brokers to disclose their security breach history and compliance with laws regarding children's data. The amendments will apply to registration statements submitted on or after the effective date of the Act, which is set for September 1, 2025.