Is the bill mandate everything the runs(any program) needs to be decrypted by official? or just program offered by service provider?
Cause if it's former, then good luck enforcing it as people can just compile and install "extensions" or alternate programs that aren't from corporations. If it's later, the corporate needs to open up the encryption by law, but they can also open source the encryption part and make it possible for community that use it to develop their own encryption extension.
I think our modern phone/computer has enough storage to keep more than life's worth of messages. ie. I have photos/videos dating all the way back to 2009 on google photo and only consumes 11.5GB, with their compression of course. modern phone have 32GB/64GB/128GB storage by default. There really is no need for any corporation to store your "data", you can encrypt your own things and then upload the encrypted archive to a cloud service for back up. With google reducing the storage capacity, you are gonna need to have alternative back up plans anyway. :)