The Cyber Intelligence Sharing and Information Act, more commonly known as CISPA, will be reintroduced to the House of Representatives Wednesday, its authors announced Monday.

CISPA, a controversial cybersecurity bill, first passed the Republican-controlled House on a vote of 248-168 last April despite a veto threat from the White House. It was not picked up by the Democratic-controlled Senate, which was working on competing cybersecurity bills of its own which didn't come to a vote.

CISPA's authors told The Hill last week they have been working with the White House to mitigate the administration's concerns over privacy, worries shared by many privacy advocates.

If CISPA passes, it would allow private companies, intelligence agencies and the Department of Homeland Security to share information about cyber threats with one another. CISPA has the support of many top technology companies, including Google and Facebook, who argue it would help bolster their defense against cyberattacks.

However, some Internet advocates worry it would facilitate government snooping on individuals. Rep. Dutch Ruppersberger (D-Md.), one of CISPA's authors, addressed those concerns in a statement Monday.

"American industry is under attack, costing our country and our economy billions of dollars and thousands of jobs," said Ruppersberger. "We need to do everything we can to enable American companies to defend themselves against these devastating cyber attacks. Our bill does just that by permitting the voluntary sharing of critical threat intelligence while preserving important civil liberties."

Rep. Mike Rogers (R-Mich.) argued for quick and decisive action in light of recent revelations that multiple American entities have been targeted by cyberattacks.

"American businesses are under siege," said Rogers in his statement. "We need to provide American companies the information they need to better protect their networks from these dangerous cyber threats. It is time to stop admiring this problem and deal with it immediately. Congress urgently needs to pass our cyber threat information sharing bill to protect our national security, our economy, and U.S. jobs.”

CISPA's authors also stress the bill will include restrictions on the government's use of data shared with it, a path for individuals to sue the government if they believe their privacy rights under the bill have been violated, oversight by the Intelligence Community Inspector General's office and a five-year sunset period after which Congress can choose to alter the bill.

Mashable has reached out to several privacy advocacy organizations for their comment.

The news of CISPA's reintroduction comes amid reports that the White House will also unveil President Barack Obama's long-awaited executive order on cybersecurity Wednesday.

What do you think is the right path forward on cybersecurity? Share your thoughts in the comments.

Photo via iStockphoto, DHuss