Bill > H7214

This bill makes it a felony to engage in "price gouging" of prescription drugs or pharmaceuticals during a "market shortage" or "market emergency," which are defined as situations where the supply of a drug is insufficient to meet demand or when a state of emergency is declared by the governor or president. Price gouging is defined as charging an unreasonably high price for such drugs, meaning a price that shows a gross disparity from the usual price and is not justified by increased costs. Violators face up to five years in prison, a fine of up to $10,000, or both, and can also be subject to injunctions brought by the attorney general's office to stop the illegal pricing. The bill also outlines factors the attorney general will consider when determining if a price is unreasonably excessive, such as increased costs, risks, and market conditions, and requires annual consultation with various stakeholders to reassess these criteria. Any declared market shortage will last for a maximum of six months but can be renewed if the shortage persists.

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