The White House proposal would require the reporting of security breaches to the Federal Trade Commission. The proposal defines a breach as a “compromise of the security, confidentiality or integrity of, or the loss of, computerized data” It would apply to for-profit and not-for-profit business entities that engage or affect interstate commerce and use, access, transmit, store, dispose of or collect sensitive personally identifiable information about more than 10,000 individuals during any 12-month period. The proposed policy would include two major exemptions, or safe harbors.”]
Source: https://www.govinfosecurity.com/obama-offers-breach-notification-bill-a-3637