Bill > HB3583

This bill creates the Motor Fuel Minimum Markup Act, which prohibits retailers, wholesalers, and refiners from selling motor fuel below a specified cost if the intent is to induce the purchase of other merchandise or divert trade from competitors. The bill establishes complex definitions for calculating the minimum selling price of motor fuel, which includes the invoice cost, transportation expenses, taxes, and a markup based on the Oil Price Information Service (OPIS) plus one cent. Retailers and wholesalers are required to sell motor fuel at or above their calculated "cost to retailer" or "cost to wholesaler," which takes into account various factors like purchase prices, discounts, and market conditions. If a seller wants to lower prices to match a competitor's price, they must notify the Attorney General before the close of business on the day of the price reduction. Violations of this Act are considered violations of the Consumer Fraud and Deceptive Business Practices Act, giving the Attorney General the authority to enforce the law and apply appropriate remedies and penalties. The bill includes some exceptions, such as sales between wholesalers, and allows the Attorney General to adopt rules for implementing the Act.

Business and Industry

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3583&GAID=18&DocTypeID=HB&SessionID=114&GA=104