Bill
Bill > A2932
NJ A2932
NJ A2932Permits retail dealer of motor fuel to sell motor fuel at price below retail dealer's net cost to meet competition.
summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
2010-2011 Regular Session
Bill Summary
This bill permits a retail dealer to sell motor fuel at a price which is below the net cost of that fuel to the dealer plus all selling expenses to meet competition. Under current law, a retail dealer of motor fuel is prohibited under any circumstances from selling that motor fuel at a price which is below the net cost of the motor fuel to the retail dealer plus all selling expenses. The bill further stipulates that it shall be unlawful, however, for any retail dealer with intent to injure competition or destroy or substantially lessen competition to sell motor fuel at a price which is below the net cost to the retail dealer.
AI Summary
This bill allows a retail dealer of motor fuel, such as gasoline, to sell that fuel at a price lower than their own cost plus expenses, but only if it's to match a competitor's price. However, it explicitly prohibits selling fuel below cost with the intention of harming competition or significantly reducing it. The "net cost" refers to the price the dealer paid for the fuel, and "selling expenses" include costs like labor and overhead. This change modifies existing law that previously forbade selling below cost under any circumstances.
Committee Categories
Transportation and Infrastructure
Sponsors (3)
Last Action
Introduced, Referred to Assembly Transportation, Public Works and Independent Authorities Committee (on 06/17/2010)
bill text
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| Bill | https://www.njleg.state.nj.us/2010/Bills/A3000/2932_I1.HTM | 05/28/2012 |
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