Bill > HB5323

This bill amends the Personalized Algorithmic Pricing Disclosure Act to require any entity that uses personalized algorithmic pricing, which is dynamic pricing set by an automated process using an individual's personal data, to clearly and conspicuously disclose to consumers that "THIS PRICE WAS SET BY AN ALGORITHM USING YOUR PERSONAL DATA" when advertising or announcing such prices. The bill defines "algorithm" as a set of rules for automated operations, "clear and conspicuous disclosure" as easily visible and understandable information, "consumer" as an individual seeking goods or services for personal use, "dynamic pricing" as fluctuating prices, "entity" as any business or organization, "personal data" as information linked to a specific person or device, and "personalized algorithmic pricing" as dynamic pricing determined by an algorithm using personal data. Exceptions to this disclosure requirement include entities regulated by the Illinois Insurance Code, financial institutions subject to federal privacy laws, and prices offered to consumers with existing subscription agreements that are lower than the advertised price. Violations of this Act are considered unlawful practices under the Consumer Fraud and Deceptive Business Practices Act, granting the Attorney General enforcement powers.

Business and Industry

https://www.ilga.gov/Legislation/BillStatus?DocNum=5323&GAID=18&DocTypeID=HB&SessionID=114&GA=104