Bill
Bill > S00141
NY S00141
NY S00141Penalizes the price gouging of pharmaceuticals; penalty not to exceed one million dollars.
summary
Introduced
01/09/2019
01/09/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the general business law, in relation to the price gouging of pharmaceuticals The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill amends the New York General Business Law to prohibit manufacturers or wholesalers of pharmaceuticals from selling or offering to sell pharmaceuticals at an "unconscionably excessive price." The bill defines the factors the court must consider in determining whether a price is unconscionably excessive, including whether the price represents a "gross disparity" from the market price over the prior six months or grossly exceeds the price at which the pharmaceuticals were readily obtainable by other purchasers. If a violation is found, the court can impose a civil penalty of up to $1 million and order restitution to aggrieved consumers.
Committee Categories
Business and Industry
Sponsors (10)
David Carlucci (D)*,
Brian Benjamin (D),
James Gaughran (D),
Michael Gianaris (D),
Brad Hoylman (D),
Robert Jackson (D),
Timothy Kennedy (D),
Rachel May (D),
Zellnor Myrie (D),
Julia Salazar (D),
Last Action
REFERRED TO CONSUMER PROTECTION (on 01/08/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...