Assembly Actions -
Senate Actions - UPPERCASE
|Jan 03, 2018||
referred to consumer protection
|Mar 28, 2017||
referred to consumer protection
Senate Bill S5440
2017-2018 Legislative Session
Archive: Last Bill Status - In Senate Committee Consumer Protection Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2017-S5440 (ACTIVE) - Details
2017-S5440 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5440 REVISED MEMO 01/24/2018 SPONSOR: LANZA TITLE OF BILL: An act to amend the general business law, in relation to price gouging PURPOSE OR GENERAL IDEA OF BILL: To further define "unconscionably excessive price" in the context of price gouging. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends Section 396-r of the General Business law. The bill provides that during periods of abnormal disruption of the market for consumer goods and services vital and necessary for the health, safety and welfare. Of consumers, no party within the chain of distribution of such consumer goods shall offer to sell goods for an "unconscionably excessive price." Unconscionably excessive prices is further defined as a price that is excessive as compared to the price at which the good or service was sold or offered for sale by the seller in the usual course
2017-S5440 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5440 2017-2018 Regular Sessions I N S E N A T E March 28, 2017 ___________ Introduced by Sen. LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer Protection 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: Section 1. Section 396-r of the general business law, as amended by chapter 510 of the laws of 1998, subdivision 4 as amended by chapter 224 of the laws of 2008, is amended to read as follows: § 396-r. Price gouging. 1. Legislative findings and declaration. The legislature hereby finds that during periods of abnormal disruption of the market caused by strikes, power failures, severe shortages or other extraordinary adverse circumstances, some parties within the chain of distribution of consumer goods have taken unfair advantage of consumers by charging grossly excessive prices for essential consumer goods and services. In order to prevent any party within the chain of distribution of any consumer goods from taking unfair advantage of consumers during abnormal disruptions of the market, the legislature declares that the public interest requires that such conduct be prohibited and made subject to civil penalties. 2. During any abnormal disruption of the market for consumer goods and services vital and necessary for the health, safety and welfare of consumers, no party within the chain of distribution of such consumer goods or services or both shall sell or offer to sell any such goods or services or both for an amount which represents an unconscionably exces- sive price. For purposes of this section, the phrase "abnormal disruption of the market" shall mean any change in the market, whether actual or imminently threatened, resulting from stress of weather, convulsion of nature, failure or shortage of electric power or other source of energy, strike, civil disorder, war, military action, national or local emergency, or other cause of an abnormal disruption of the EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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