"Social Media Fairness and Transparency Act"; establishes requirements for social media companies concerning content moderation practices; establishes cause of action against social media companies for violation of content moderation practices.

This bill, titled the Social Media Fairness and Transparency Act, would require social media companies operating in New Jersey to follow specific rules about how they moderate user content and manage platform algorithms. It defines key terms like "censor," "post suppression," and "selective suspension" to clarify what actions the law covers, while also setting minimum thresholds for which companies must comply based on revenue or user numbers. The legislation creates a legal cause of action that allows individuals to sue social media companies if they violate these content moderation requirements. Additionally, the bill explicitly excludes paid content prioritization from its restrictions and provides specific definitions for what constitutes a social media platform under New Jersey law.