Creates an excise tax on the collection of consumer data by commercial data collectors

Bill A 1434 creates a new monthly excise tax on commercial data collectors for gathering consumer data from New York residents. This tax applies to for-profit entities that collect information on more than one million individual New York consumers per month, excluding basic contact or transaction-related credit card details. The tax rate is tiered, increasing progressively based on the number of New York consumers whose data is collected beyond the one-million threshold. The bill also defines "consumer data" and "New York consumer," and allows for a tax credit if an identical tax is paid to another state for the same consumer.