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MI HB5669
Bill
Status
3/17/2020
Primary Sponsor
Laurie Pohutsky
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AI Summary
HB 5669 Summary
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Prohibits businesses from charging excessively increased prices for energy products (gasoline, propane, heating oil) and services during or after a market disruption, defined as weather events, supply failures, strikes, civil disorder, or other abnormal market conditions.
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Defines "excessively increased price" as a price increase exceeding 10% from pre-disruption levels unless the seller can demonstrate the increase is attributable to actual cost increases in bringing the product to market.
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Authorizes the Attorney General and local prosecutors to demand documents and testimony from individuals under investigation, with enforcement through circuit court if compliance is refused.
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Establishes civil penalties of up to $10,000 per violation for individuals and $1,000,000 for other persons, plus allows treble damages (up to 3 times actual damages) if violations are found to be flagrant.
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Creates misdemeanor criminal liability for intentional violations (up to 2 years imprisonment and/or $10,000 fine for individuals; up to $1,000,000 fine for other persons) and authorizes class actions by the Attorney General for actual damages or $100 per affected person, whichever is greater.
Legislative Description
Trade; business practices; excessively increased pricing for energy products and services during a market disruption; prohibit. Creates new act.
Trade: consumer goods and services
Last Action
Bill Electronically Reproduced 03/25/2020
3/25/2020