Kicking off another year of advocacy for the insights industry, the Insights Association focused in January on proposed children’s privacy rules, a new tax bill in Nebraska, turning 529 accounts into career savings plans, a proposed tax on displacing employees with any kind of technology, and the Biden Administration’s extensive new artificial intelligence policies… and lots more!
Consumer Privacy and Data Security
- The Federal Trade Commission (FTC) has proposed a changes to the Children’s Online Privacy Protection Act (COPPA) regulations and helpfully clarified their exceptions for audience measurement and product improvement.
- The Consumer Financial Protection Bureau (CFPB) has proposed new “Personal Financial Data Rights” rules that Privacy for America contended should be updated “to minimize unreasonable restrictions on uses and transfers of covered data that drive legitimate commerce and yield significant consumer benefits.”
- The Protecting Sensitive Personal Data Act would give the U.S. Department of the Treasury’s Committee on Foreign Investment (CFIUS) oversight authority of investments in United States businesses that maintain or collect personal information.
- While we have not yet had a chance to provide full analyses, New Jersey and New Hampshire both approved comprehensive consumer data privacy laws this month that will come into effect in 2025.
IA is concerned about the Nebraska Advertising Services Tax Act, a bill that would add a new tax on advertising, explicitly including ad measurement services.
The Insights Association is going to bat for the Freedom to Invest in Tomorrow’s Workforce Act, legislation that would permit certain expenses associated with obtaining or maintaining postsecondary credentials (such as licenses, certifications, or certificates) to be treated as qualified higher education expenses for purposes of 529 tax savings accounts. The bills would transform college savings plans into career savings plans. (There is some hope of getting it approved as part of a big Congressional tax deal.)
We are also looking for member feedback on the New York Robot Tax Act, legislation that would impose a tax surcharge on “using technology to displace workers,” in an amount equal to taxes and fees that would have been paid on what an employee would have earned in the eliminated position.
The governor of New York vetoed legislation at the end of 2023 that would have banned most non-compete agreements in employment contracts in the state, including some trade secret protections and non-solicitation agreements, with violations punishable by private lawsuits. IA had requested the veto – we support restrictions on noncompetes, but not their across-the-board ban.
President Joe Biden has issued an extensive executive order “to ensure that America leads the way in seizing the promise and managing the risks of artificial intelligence (AI),” including setting standards for safety, security and privacy, which will directly impact federal contractors and providers, but could impact the whole insights ecosystem over time.
The No Section 230 Immunity for AI Act would waive immunity under section 230 of the Communications Act for claims and charges related to generative artificial intelligence.
With gratitude for all that YOU do for the insights industry
While many of us have been shivering from the chilly temperatures, the insights industry can still take solace in the warm support of the Insights Association’s members and sponsors – the key pillars underpinning all of our advocacy for and defense of the industry.
Just like in 2023, we remain available to answer your questions and concerns on legislative/regulatory/legal issues. Please stay in contact… and keep warm.
(As a reminder, if you missed the year-end roundups on privacy, taxes and other industry issues, jump back in time to the December 2023 update.)
This information is not intended and should not be construed as or substituted for legal advice. It is provided for informational purposes only. It is advisable to consult with private counsel on the precise scope and interpretation of any laws/regulation/legislation and their impact on your particular business.