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Price-gouging law - Trends
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501.160 Rental or sale of essential commodities during a declared state of emergency; prohibition against unconscionable prices.-- (1) As used in this section: (a) "Commodity" means any goods, services, materials, merchandise, supplies, equipment, resources, or other article of commerce, and includes, without limitation, food, water, ice, chemicals, petroleum products, and lumber necessary for consumption or use as a direct result of the emergency. (b) It is prima facie evidence that a price is unconscionable if: 1. The amount charged represents a gross disparity between the price of the commodity or rental or ...
. The primary purpose of the bill would be to allow the state to limit the range of items for which the price gouging rules will be enforced based upon the nature of the emergency. For example, if a storm mostly damaged windows and roofs, the price gouging rule might be enforced on plywood and hotel rooms, but not on ice and gasoline. Another part of the bill would allow gasoline retailers to raise the price of retail gasoline to reflect the cost of replenishing the store’s supplies rather than linking allowed retail prices to the historical cost of the gasoline sold. Currently ... Read More
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Full Focus: Top Stories 4-28-06