TO: | Honorable Helen Giddings, Chair, House Committee on Business & Industry |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB695 by Leibowitz (relating to restrictions on the prices of certain consumer goods and services during an abnormal disruption of the market.), Committee Report 1st House, Substituted |
The bill adds the new Chapter 48 authorizing the Governor to declare, by proclamation, an abnormal disruption of the market. The bill prohibits the selling of essential consumer goods and services at unconscionably excessive prices after the Governor declares an abnormal disruption of the market. A price charged is considered unconscionably excessive if it exceeds 20 percent or more than the good or service was sold for prior to the event or circumstances identified by the proclamation. The proclamation must specify the geographical area covered and the date and time the abnormal disruption occurred. A violation of this section is deceptive trade practice.
No significant fiscal impact to the State is anticipated as the Office of the Attorney General currently investigates complaints of excessive pricing of fuels, food, medicine, and other necessities during disasters.
Source Agencies: | 301 Office of the Governor, 302 Office of the Attorney General
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LBB Staff: | JOB, JRO, MS, SMi
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