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SF 965

as introduced - 92nd Legislature (2021 - 2022) Posted on 05/20/2022 01:02pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to consumer protection; prohibiting price gouging; prescribing penalties;
proposing coding for new law in Minnesota Statutes, chapter 325E.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [325E.80] ABNORMAL MARKET DISRUPTIONS; UNCONSCIONABLY
EXCESSIVE PRICES.
new text end

new text begin Subdivision 1. new text end

new text begin Definitions. new text end

new text begin (a) For purposes of this section, the terms in this subdivision
have the meanings given.
new text end

new text begin (b) "Abnormal market disruption" means a change in the market resulting from a natural
or man-made disaster, a national or local emergency, a public health emergency, or an event
resulting in a declaration of a state of emergency by the governor or president. Abnormal
market disruption also means an increase in the price for an essential consumer good or
service that exceeds 30 percent within a seven-day period.
new text end

new text begin (c) "Essential consumer good or service" means a good or service vital and necessary
for the health, safety, and welfare of the public, including without limitation: food, water,
fuel, gasoline, shelter, transportation, health care services, pharmaceuticals, and medical
supplies.
new text end

new text begin (d) "Unconscionably excessive" means:
new text end

new text begin (1) the amount charged represents a gross disparity between the price of the good or
service and (i) the price the same good or service is sold or offered for sale in the usual
course of business immediately prior to the onset of the abnormal market disruption, or (ii)
the price the same or similar good or service is readily obtainable by other purchasers in
the trade area; and
new text end

new text begin (2) the disparity (i) is not substantially attributable to significant additional costs outside
of the seller's control, and (ii) does not increase the seller's profit.
new text end

new text begin Subd. 2. new text end

new text begin Prohibition. new text end

new text begin During an abnormal market disruption a person is prohibited from
selling or offering to sell an essential consumer good or service for an amount that represents
an unconscionably excessive price.
new text end

new text begin Subd. 3. new text end

new text begin Civil penalty. new text end

new text begin A person who is found to have violated this section is subject
to a civil penalty of not more than $10,000 per sale or transaction.
new text end

new text begin Subd. 4. new text end

new text begin Enforcement authority. new text end

new text begin The attorney general may investigate an alleged
violation of this section. The authority of the attorney general under this section includes
but is not limited to the authority provided under section 8.31.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end