HB 5727 Summary

• Adds Section 3j to Michigan Consumer Protection Act to prohibit reselling products at prices grossly in excess of the acquisition price.

• Prohibits offering or selling any product at more than 20% higher than the price charged as of March 9, 2020, unless the increase is attributable to higher costs or an extraordinary discount that existed on that date.

• Defines "product" as goods, materials, or consumer food items with fair market value under $1,000 or any emergency supply.

• Establishes criminal penalties of up to 90 days imprisonment or $500 fine for willful violations of the pricing restrictions.

• Automatically repeals Section 3j effective June 1, 2020, making the price gouging restrictions temporary emergency measures.