MN HF398

Adds definitions for "monopoly power," "monopsony," and "monopsony power" to Minnesota consumer protection statutes, establishing that monopoly power includes ability to raise prices substantially above competitive levels or exclude competitors, and monopsony power means an individual buyer can influence demand and price.

Makes establishment, maintenance, or use of monopoly or monopsony power to affect competition or control prices unlawful, and removes procompetitive effects as a legal defense to such conduct.

Expands scope of Minnesota antitrust law to apply to contracts, combinations, conspiracies, and monopoly or monopsony power whenever they affect Minnesota's trade or commerce, regardless of where created or formed.

Increases civil penalties from $50,000 to $100,000 per violation for individuals and raises non-compliance penalties from $100,000 to $250,000; maintains criminal felony penalty of up to $50,000 fine or seven years imprisonment for willful violations.