MI SB0376

Establishes the "Pricing Modernization Act" to amend Michigan's 1976 consumer pricing law, updating definitions and creating exceptions to individual item price marking requirements.

Allows retailers to forgo individual price marking on non-food, non-medicine consumer items if they use automatic checkout systems audited quarterly by certified public accountants achieving at least 98% accuracy or no more than 2% error rate.

Requires retailers using the automatic checkout exception to post prices in at least 18-point font on signs immediately adjacent to items, displaying total price in Arabic numerals and item description.

Establishes consumer notification and settlement procedures: customers must notify retailers within 30 days of overcharges, and retailers have 2 days to tender the difference plus 20 times that difference (minimum $2, maximum $10) to avoid litigation.

Imposes 21-day cure period for retailers failing accuracy standards; if not recertified within 21 days, the retailer must comply with traditional individual item pricing for at least 180 days and cannot use the automatic checkout exception.