The proposal specifically requires companies to register if they do any one of several things, which includes these gems:
Profiling users based on their personal data collected;
Selling or authorizing others to use users' personal data to provide location-based advertising or targeted advertising; or
Using facial recognition software and other tracking technology.
So.. no more Facebook Ads, or Google Ads, in Colorado? Each individual website would have to register with the State in order to continue running ads on their site (the "authorizing others" bit is what seems to enable that).
Also, the "disseminate intentional disinformation, conspiracy theories, or fake news" part is a clear and undeniable violation of free speech - but I guess taking Unsolved Mysteries, which does disseminate conspiracy theories of UFOs and talks about Area 51, is ok now? Also, since one can't prove religions aren't fake news, and they can't all be correct, does this mean that I can sue religious institutions if they continue to disseminate fake news ("You're saved!", etc..).