Bill

Bill > S484


NJ S484

NJ S484
Permits retail dealer of motor fuel to sell motor fuel at price below retail dealer's net cost to meet competition.


summary

Introduced
In Committee
Crossed Over
Passed
Dead

Introduced Session

2010-2011 Regular Session

Bill Summary

This bill permits a retail dealer to sell motor fuel at a price which is below the net cost of that fuel to the dealer plus all selling expenses to meet competition. Under current law, a retail dealer of motor fuel is prohibited under any circumstances from selling that motor fuel at a price which is below the net cost of the motor fuel to the retail dealer plus all selling expenses. The bill further stipulates that it shall be unlawful, however, for any retail dealer with intent to injure competition or destroy or substantially lessen competition to sell motor fuel at a price which is below the net cost to the retail dealer.

AI Summary

This bill allows a retail dealer of motor fuel, such as a gas station owner, to sell gasoline or other fuels at a price lower than their own cost plus expenses, but only if it's to match a competitor's price. However, it explicitly states that it remains illegal for any dealer to sell fuel below their net cost with the intention of harming competition, such as driving other businesses out of the market or significantly reducing the number of competitors. The term "net cost" refers to the price the dealer paid for the fuel, and "selling expenses" would include costs like labor, rent, and utilities associated with operating the business. This change modifies existing law that previously prohibited selling below cost under any circumstances.

Committee Categories

Transportation and Infrastructure

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Transportation Committee (on 01/12/2010)

bill text


bill summary

Loading...

bill summary

Loading...

bill summary

Document Type Source Location Created
Bill https://www.njleg.state.nj.us/2010/Bills/S0500/484_I1.HTM 05/28/2012
Loading...