Honorable Joe Deshotel, Chair, House Committee on Business & Industry
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
HB765 by Lozano (relating to restrictions on the prices of certain consumer goods and services during an abnormal disruption of the market.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Business and Commerce Code and prohibits unconscionable prices during an abnormal market disruption and identifies an unconscionable price as one that exceeds the price that was charged immediately prior to the abnormal market disruption by more than 20 percent. The bill clarifies that a price increase of more than 20 percent is not unconscionable if it is attributable to a special event or traditional high demand period unrelated to the market disruption. The bill may result in new complaints and investigations by the Office of the Attorney General’s Consumer Protection and Public Health Division. However, it is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
302 Office of the Attorney General, 701 Central Education Agency