The "16 & Up Social Media Act" prohibits social media platforms from allowing individuals under the age of 16 to create or maintain accounts. It also requires the termination of existing accounts belonging to users under 16, with the deletion of personal data and an appeals process. Enforcement is delegated to the Federal Trade Commission, with the provision for states to take action. The act preempts conflicting state laws and defines terms related to covered platforms, design features, and personal data. The effective date is set for 1 year after enactment, and it emphasizes that platform classification won't be based on hosted content.