WMC lead a coalition of business groups this week in opposing AB 466, which would create rules for the processing and retention of consumers’ personal data. One study estimates out-of-state compliance costs of between $98 billion and $112 billion annually, $20-23 billion would be bore by small businesses. In Wisconsin, the cost to businesses was estimated at $2.8 billion. This bill would affect businesses that collect personal data on 100,000 or more consumers (per year) or 25,000 consumers and derive more than 50% of the business’ revenue from the sale of personal data. This legislation, while well-intentioned, would create compliance headaches, particularly for small- and medium-sized businesses that are least able to absorb compliance costs.
