Assembly Actions -
Senate Actions - UPPERCASE
|Jul 24, 2020||
referred to economic development
Assembly Bill A10870
2019-2020 Legislative Session
Archive: Last Bill Status - In Assembly Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2019-A10870 (ACTIVE) - Details
2019-A10870 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10870 I N A S S E M B L Y July 24, 2020 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Dinowitz) -- read once and referred to the Committee on Economic Development AN ACT to amend the general business law, in relation to actions or practices that establish or maintain a monopoly or restraint of trade, and in relation to authorizing a class action lawsuit in the state anti-trust law THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "Twenty- First Century Anti-Trust Act". § 2. Legislative findings. The legislature hereby finds and declares that there is great concern for the growing accumulation of power in the hands of large corporations. While technological advances have improved society, these companies possess great and increasing power over all aspects of our lives. Over one hundred years ago, the state and federal governments identified these same problems as big businesses blossomed after decades of industrialization. Seeing those problems, the state and federal governments enacted transformative legislation to combat cartels, monopolies, and other anti-competitive business practices. It is time to update, expand and clarify our laws to ensure that these large corporations are subject to strict and appropriate oversight by the state. The legislature further finds and declares that unilateral actions which seek to create a monopoly are as harmful as contracts or agreements of multiple parties to do the same and should be treated similarly under the law. After monopolies have been established, it is typically too late to repair or mitigate the damage which has been done. Accordingly, mere attempts to create monopolies should also be treated as actions contrary to the interests of the people of the state of New York and should be penalized accordingly. The legislature further finds and declares that anti-competitive practices harm great numbers of citi- zens and therefore must ensure that class actions may be raised in anti- trust suits. § 3. Section 340 of the general business law, as amended by chapter 12 of the laws of 1935, subdivision 1 as amended by chapter 893 of the laws EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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