; (4) each discrete revenue generating operation of the commercial data operator and any subsidiary or affiliate that relies on user data; (5) the entry into any contract valued at more than $10,000,000 with a third party for the collection, licensing, or sharing by the third party pursuant to an agreement with the commercial data operator; (6) the amount of revenue derived from obtaining, collecting, processing, selling, using or sharing user data during the reporting period; (7) how changes in the measurement of aggregate fair value of user data affect the reported performance and cash flows of the issuer; and (8) any acquisition of user data in the preceding reporting period valued at more than $100,000,000. (c) Report (1) In general Not later than 3 years after the date of enactment of this Act, the Commission shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on— (A) the nature, timing, and extent of the disclosure practices of commercial data operators; (B) an assessment of the valuation methodologies and practices employed by commercial data operators in developing and submitting disclosures to the public; (C) an evaluation of the methods of delivery and presentation of the disclosures required by this Act, and the amendments made by this Act; and (D) recommendations for the improvement of the methods described in paragraph (3), including developing standards to enhance comparability and utility for investors. (2) Rulemaking Not later than 180 days after the date on which the report required under paragraph (1) is submitted, the Commission shall promulgate a proposed regulation implementing the recommendations described in paragraph (1)(D).