This legislation, known as the "SEARCH Act of 2026," seeks to restore competition in online search and digital advertising markets by regulating large technology companies. It defines "covered platforms" as entities offering general search engines, AI search, or search ads with significant user bases, specifically those reaching at least 40% of the U.S. population over 12. The bill introduces a comprehensive framework to prevent anti-competitive practices and foster a more equitable digital landscape. The bill prohibits exclusionary conduct by covered platforms, including providing preferential payments or incentives to distributors for default status or preventing competitor use. It also bans exclusive agreements with publishers that restrict competitor data access or grant "most favored nation" status, and forbids conditioning access to app stores or operating systems on the distribution of a platform's own search or advertising products. Furthermore, it requires prior approval from the Commission for significant acquisitions or investments in relevant markets and prohibits self-preferencing , preventing platforms from using their control over search engines, AI search, or search ads to advantage their own services through preferential ranking or exclusive access to features. A core provision mandates extensive data sharing requirements , compelling covered platforms to provide qualified competitors with non-discriminatory access to their search index, user-side data (with privacy safeguards), and ads data. This data must be provided at marginal cost via APIs in machine-readable formats, updated weekly, and filtered to remove personally identifying information. The legislation also introduces mandatory syndication , requiring covered platforms to license search results, ranking signals, and related features, including local, maps, and video content, to qualified competitors at marginal cost for at least 10 years, alongside non-discriminatory licensing of search ad inventory. To promote user choice , covered platforms must present users with a choice screen for general search engines at initial device setup and annually thereafter, with competitors randomly ranked and selected by objective criteria. It prohibits pre-installation of a platform's own search engine as default on new devices and mandates easily accessible settings for users to switch defaults. The bill enhances advertiser transparency through requirements for query-level reports, real-time ad campaign data export, and keyword options. Enforcement is primarily through civil actions by the Federal Trade Commission, the Attorney General, or state attorneys general, with violations subject to civil penalties of up to 15 percent of the covered platform's U.S. annual revenue, and requires annual compliance certifications from covered platforms.