senate Bill S933

2021-2022 Legislative Session

Relates to actions or practices that establish or maintain a monopoly, monopsony 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 - Passed Senate


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

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Actions

view actions (8)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 07, 2021 referred to economic development
delivered to assembly
passed senate
Jun 03, 2021 ordered to third reading cal.1480
committee discharged and committed to rules
May 18, 2021 print number 933a
May 18, 2021 amend (t) and recommit to consumer protection
Jan 06, 2021 referred to consumer protection

Co-Sponsors

S933 - Details

Law Section:
General Business Law
Laws Affected:
Amd §§340, 341, 342-a & 342-b, add §342-d, Gen Bus L

S933 - Summary

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

S933 - Sponsor Memo

S933 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    933
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by Sen. GIANARIS -- 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  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

Co-Sponsors

view additional co-sponsors

S933A (ACTIVE) - Details

Law Section:
General Business Law
Laws Affected:
Amd §§340, 341, 342-a & 342-b, add §342-d, Gen Bus L

S933A (ACTIVE) - Summary

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

S933A (ACTIVE) - Sponsor Memo

S933A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  933--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by  Sens. GIANARIS, SALAZAR, KAVANAGH, MAY -- read twice and
   ordered printed, and when printed to be 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,  monopsony  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 or monopsony are as  harmful  as
 contracts or agreements of multiple parties to do the same and should be
 treated  similarly  under  the law. After monopolies or monopsonies have
 been established, it is typically too late to  repair  or  mitigate  the
 damage which has been done. Accordingly, mere attempts to create monopo-
 lies  or  monopsonies  through  anti-competitive  conduct should also be
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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