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# Summary of H.R. 5628, Algorithmic Accountability Act of 2023 This bill directs the Federal Trade Commission to establish regulations requiring large companies to conduct and report impact assessments of automated decision systems used in critical life decisions. The law applies to companies with over $50 million in annual revenue or serving over one million consumers, and requires these "covered entities" to assess how their AI and algorithmic systems affect consumers in areas like employment, housing, finance, healthcare, education, and utilities. Companies must document their assessments before deploying new systems and submit annual reports to the FTC summarizing the testing, performance, potential biases, and any negative impacts identified. The assessments must include meaningful consultation with affected communities and stakeholders, testing for discrimination across demographic groups, privacy protections, and mechanisms for consumers to contest decisions. The FTC must create a publicly searchable database of this information to help consumers and researchers understand how algorithms affect critical decisions. The bill establishes an FTC Bureau of Technology with at least 50 specialized staff to implement and enforce these requirements. Violations are treated as unfair or deceptive practices under existing FTC law, and states can sue on behalf of residents. The FTC has two years to write detailed regulations, which take effect two years later, and must review and update these rules every five years.

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