HD 5363

As introduced: - Establishes the Office of Social Media Transparency and Accountability within the office of the attorney general. - Requires covered online platforms to undergo and pay for periodic algorithm risk audits, conducted by independent third-party auditors, to assess potential harms to children. - Mandates annual transparency reporting from covered platforms on child users and platform design, and requires platforms to set and report on benchmarks for reducing identified harms. - Authorizes the attorney general to seek an injunction and a civil penalty of up to $500,000 per violation for non-compliance.