senate Bill S8700A

2019-2020 Legislative Session

Relates to actions or practices that establish or maintain a monopoly or restraint of trade, and authorizes a class action lawsuit in the state anti-trust law

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Consumer Protection Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 16, 2020 print number 8700a
Jul 16, 2020 amend and recommit to consumer protection
Jul 14, 2020 committee discharged and committed to consumer protection
Jul 08, 2020 referred to rules

Co-Sponsors

S8700 - Details

See Assembly Version of this Bill:
A10870
Current Committee:
Senate Consumer Protection
Law Section:
General Business Law
Laws Affected:
Amd §§340 & 341, Gen Bus L

S8700 - Summary

Relates to actions or practices that establish or maintain a monopoly or restraint of trade, and authorizes a class action lawsuit in the state anti-trust law.

S8700 - Sponsor Memo

S8700 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8700
 
                             I N  S E N A T E
 
                               July 8, 2020
                                ___________
 
 Introduced by Sens. GIANARIS, MAY -- read twice and ordered printed, and
   when printed to be committed to the Committee on Rules
 
 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.  The  section  heading  and  subdivision 1 of section 340 of the
 general business law, the section heading as amended by  chapter  12  of
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Co-Sponsors

S8700A (ACTIVE) - Details

See Assembly Version of this Bill:
A10870
Current Committee:
Senate Consumer Protection
Law Section:
General Business Law
Laws Affected:
Amd §§340 & 341, Gen Bus L

S8700A (ACTIVE) - Summary

Relates to actions or practices that establish or maintain a monopoly or restraint of trade, and authorizes a class action lawsuit in the state anti-trust law.

S8700A (ACTIVE) - Sponsor Memo

S8700A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8700--A
 
                             I N  S E N A T E
 
                               July 8, 2020
                                ___________
 
 Introduced by Sens. GIANARIS, MAY -- read twice and ordered printed, and
   when  printed  to  be committed to the Committee on Rules -- committee
   discharged and said  bill  committed  to  the  Committee  on  Consumer
   Protection -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 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-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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