To amend section 2703 of title 18, United States Code, to require emergency disclosure of location information to law enforcement or public safety answering point.

HR7752, "To amend section 2703 of title 18, United States Code, to require emergency disclosure of location information to law enforcement or public safety answering point," directly impacts telecommunications and technology companies. The bill compels these entities to provide location data in emergency situations, shifting the burden of immediate disclosure onto private industry. This is not an appropriation bill; it mandates a service without direct compensation, increasing compliance and operational costs for companies like AT&T ($T), Verizon ($VZ), T-Mobile ($TMUS), Google ($GOOGL), and Apple ($AAPL). The money trail for this bill is negative for the affected companies. They incur costs for developing and maintaining systems to facilitate rapid, secure, and compliant disclosure of location information. This includes infrastructure upgrades, personnel training, and legal overhead to ensure adherence to the new mandate. There are no grants, tax credits, or direct procurement contracts associated with this bill; it is a regulatory imposition. Historically, similar mandates have led to increased operational expenses for telecommunications and technology providers. For example, following the Communications Assistance for Law Enforcement Act (CALEA) in 1994, telecommunication companies invested significantly in infrastructure to enable lawful interception capabilities. While CALEA did not provide direct market data on specific stock movements related solely to its passage, it established a precedent of unfunded mandates increasing compliance costs. More recently, increased data privacy regulations, such as GDPR and CCPA, have forced technology companies to invest heavily in data management and security, impacting profitability margins for companies like Meta Platforms ($META) and Alphabet ($GOOGL) by increasing their operational expenditures on compliance. Specific winners are non-existent as this bill imposes costs without creating new revenue. Losers include telecommunications providers like AT&T ($T), Verizon ($VZ), and T-Mobile ($TMUS), and technology companies that handle location data, such as Google ($GOOGL) and Apple ($AAPL). These companies face increased operational expenditures for compliance. The bill was referred to the House Committee on the Judiciary. As Rep. Schmidt is a junior member with only 3 cosponsors, the legislative momentum is low, indicating a longer timeline for potential passage, if any. The next step is committee review, which has no set timeline.