Reading through an actual breakdown of the bill... I have to admit I'm not a fan. Most specifically, I preferred the construction of GDPR over this one because it was more careful with its definitions where the ban wasn't on selling the data itself, it was on using and sharing data for purposes beyond the scope of the service the business provides.
It's an important distinction because Facebook and Google don't really sell your data per se, they sell you a service that does heuristic targeting for you based on their data. A small component of that product lets you use some shared data to track things like conversions, but that's not core of the objection to how Facebook does advertising.