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Bill > S00803


NY S00803

NY S00803
Relates to price gouging; defines unconscionably excessive price for the purposes of prohibiting price gouging during abnormal disruption of the market.


summary

Introduced
01/09/2019
In Committee
01/08/2020
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

2019-2020 General Assembly

Bill Summary

AN ACT to amend the general business law, in relation to price gouging The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1

AI Summary

This bill relates to price gouging and defines what constitutes an "unconscionably excessive price" during an abnormal disruption of the market, such as a state of emergency declared by the governor. The bill provides several scenarios where a price would not be considered "unconscionably excessive," including if it is 10% or less above the seller's prior price, the current price outside the affected area, or the seller's costs plus the usual markup. The Attorney General can seek an injunction and civil penalties of up to $25,000 for violations of the price gouging prohibition.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

REFERRED TO CONSUMER PROTECTION (on 01/08/2020)

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