,,ii #aag? ,,congress #b;d ,session ,s4 #dbad ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,may #ab1 #bjbb,ms4 ,w>r5 7= h]self1 ,ms4 ,baldw91 ,mr4 ,casey1 ,mr4 ,:iteh\se1 ,mr4 ,s&]s1 ,mr4 ,m>key1 ,mr4 ,m]kley1 ,mr4 ,blum5?al1 ,ms4 ,duckwor?1 & ,mrs4 ,fe9/e97 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ,a ,,bill ,to make price g\g+ unlawful1 to exp& ! ability ( ! ,f$]al ,trade ,commission to seek p]man5t injunctions & equitable relief1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,price ,g\g+ ,prev5tion ,act ( #bjbb4 7b7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4,sec4 #b4 ,def9itions4,sec4 #c4 ,prev5tion ( price g\g+4,sec4 #d4 ,disclosures 9 ,,sec fil+s4,sec4 #e4 ,fund+4 #b4 ,def9itions ,9 ?is ,act3 7#a7 ,commission ,! t]m ,commission means ! ,f$]al ,trade ,commission4 7#b7 ,critical trad+ p>tn] ,! t]m critical trad+ p>tn] means a p]son t has ! ability to re/rict1 imp$e1 or =eclose access to its inputs1 cu/om]s1 p>tn]s1 goods1 s]vices1 te*nology1 plat=m1 facilities1 or tools 9 a way t h>ms competition or limits ! ability ( ! cu/om]s or suppli]s ( ! p]son to c>ry out bus9ess effectively4 7#c7 ,exceptional m>ket %ock ,! t]m exceptional m>ket %ock means any *ange or imm95tly ?reat5$ 7z det]m9$ "u guidance issu$ by ! ,commission7 *ange 9 ! m>ket = a good or s]vice result+ f a natural disa/]1 failure or %ortage ( electric p[] or o!r s\rce ( en]gy1 /rike1 civil disord]1 w>1 milit>y action1 national or local em]g5cy1 public-heal? em]g5cy1 or any o!r cause ( an atypical disruption 9 su* m>ket4 7#d7 ,good or s]vice ,! t]m good or s]vice means any good or s]vice (f]$ 9 comm]ce4 7#e7 ,/ate ,! t]m ,/ate means ea* ( ! sev]al ,/ates1 ! ,di/rict ( ,columbia1 ea* commonweal?1 t]ritory1 or possession ( ! ,unit$ ,/ates1 & ea* f$]ally recogniz$ ,indian ,tribe4 7#f7 ,ultimate p>5t entity ,! t]m ultimate p>5t entity has ! mean+ giv5 ! t]m 9 section #hja4a ( title #af1 ,code ( ,f$]al ,regulations 7or any successor regulation74 #c4 ,prev5tion ( price g\g+ 7a7 ,9 g5]al ,x %all be unlawful = a p]son to sell or (f] = sale a good or s]vice at an unconscionably excessive price dur+ an exceptional m>ket %ock1 reg>dless ( ! p]son's position 9 a supply *a9 or di/ribution network4 7b7 ,affirmative def5se 7#a7 ,9 g5]al ,subsection 7a7 %all n apply to ! sale1 or (f]+ = sale1 ( a good or s]vice by a p]son if-- 7,a7 ! p]son's ultimate p>5t entity e>n$ less ?an #ajj1jjj1jjj 9 gross ,unit$ ,/ates rev5ue dur+ ! prec$+ #ab-mon? p]iod2 & 7,b7 ! p]son demon/rates by a prepond]ance ( ! evid5ce t ! increase 9 ! price ( ! good or s]vice involv$ is directly attributable to additional co/s t are n )9 ! control ( ! p]son & are incurr$ by ! p]son 9 procur+1 acquir+1 di/ribut+1 or provid+ ! good or s]vice4 7#b7 ,inflation adju/m5t ,/>t+ 9 cal5d> ye> #bjbc1 ! ,commission %all annually adju/ ! am\nt specifi$ 9 p>agraph 7#a77;,a7 to reflect ! *ange 9 ! consum] price index = all urban consum]s publi%$ by ! ,bureau ( ,labor ,/ati/ics4 7c7 ,presumptive violations ,a p]son %all be presum$ to be 9 violation ( subsection 7a7 if1 dur+ an exceptional m>ket %ock1 x is %[n by a prepond]ance ( ! evid5ce t ! p]son-- 7#a7 7,a7 has unfair lev]age2 or 7,b7 is us+ ! effects or circum/ances relat$ to ! exceptional m>ket %ock z a pretext to increase prices2 & 7#b7 reg>dless ( ! p]son's position 9 a supply *a9 or di/ribution network1 sells or (f]s = sale a good or s]vice at an excessive price comp>$ to-- 7,a7 ! av]age price at :i* ! good or s]vice 0 sold or (f]$ = sale by all compet+ sell]s 9 ! m>ket dur+ ! #abj-;day p]iod prec$+ su* exceptional m>ket %ock2 or 7,b7 ! av]age price at :i* ! good or s]vice 0 sold or (f]$ = sale by ! p]son 9 ! m>ket dur+ ! #abj-;day p]iod prec$+ su* exceptional m>ket %ock4 7d7 ,rebuttal ,a p]son may rebut a presumption "u subsection 7c7 if ! p]son demon/rates by cle> & conv9c+ evid5ce t ! increase 9 ! price ( ! good or s]vice involv$ is directly attributable to additional co/s t are n )9 ! control ( ! p]son & are incurr$ by ! p]son 9 procur+1 acquir+1 di/ribut+1 or provid+ ! good or s]vice4 7e7 ,unfair lev]age 7#a7 ,9 g5]al ,= purposes ( subsection 7c71 a p]son has unfair lev]age if ! p]son-- 7,a7 e>n$ at lea/ #a1jjj1jjj1jjj 9 gross ,unit$ ,/ates rev5ue dur+ ! prec$+ #ab-mon? p]iod2 7,b7 discrim9ates betwe5 o!rwise equal trad+ p>tn]s 9 ! same m>ket by apply+ diff]5tial prices or conditions2 7,c7 is a critical trad+ p>tn]2 or 7,d7 has a *>act]i/ic describ$ 9 a rule promulgat$ by ! ,commission t fur!r def9es unfair lev]age4 7#b7 ,inflation adju/m5t ,/>t+ 9 cal5d> ye> #bjbc1 ! ,commission %all annually adju/ ! am\nt specifi$ 9 p>agraph 7#a77;,a7 to reflect ! *ange 9 ! consum] price index = all urban consum]s publi%$ by ! ,bureau ( ,labor ,/ati/ics4 7f7 ,en=cem5t by ,,ftc 7#a7 ,unfair or deceptive acts or practices ,a violation ( ?is section or a regulation promulgat$ "u ?is section %all be treat$ z a violation ( a rule def9+ an unfair or deceptive act or practice prescrib$ "u section #ah7;a77#a77;,b7 ( ! ,f$]al ,trade ,commission ,act 7#ae ,u4,s4,c4 #eg;a7a77#a77;,b774 7#b7 ,p[]s ( ! ,commission ,except z o!rwise provid$1 ! ,commission %all en=ce ?is section 9 ! same mann]1 by ! same means1 & ) ! same jurisdiction1 p[]s1 & duties z ?\gh all applicable t]ms & provisions ( ! ,f$]al ,trade ,commission ,act 7#ae ,u4,s4,c4 #da et seq47 7 incorporat$ into & made a "p ( ?is section4 ,any p]son :o violates ?is section %all be subject to ! p5alties & entitl$ to ! privileges & immunities provid$ 9 ! ,f$]al ,trade ,commission ,act4 7#c7 ,indep5d5t litigation au?ority ,if ! ,commission has reason to believe t a p]son has violat$ ?is section1 ! ,commission may br+ a civil action 9 any appropriate ,unit$ ,/ates di/rict c\rt to-- 7,a7 enjo9 any fur!r su* violation by su* p]son2 7,b7 en=ce compliance ) ?is section2 7,c7 obta9 a p]man5t1 tempor>y1 or prelim9>y injunction2 7,d7 obta9 civil p5alties2 7,e7 obta9 damages1 re/itution1 or o!r comp5sation on behalf ( aggriev$ consum]s2 or 7,f7 obta9 any o!r appropriate equitable relief4 7#d7 ,civil p5alties ,9 addition to any o!r p5alties z may be prescrib$ by law1 ea* violation ( ?is section %all c>ry a civil p5alty n to exce$-- 7,a7 if ! p]son :o committ$ ! violation does n h unfair lev]age1 ! less] (-- 7i7 #be1jjj2 or 7ii7 #e p]c5t ( ! rev5ues e>n$ by ! p]son's ultimate p>5t entity dur+ ! prec$+ #ab-mon? p]iod2 or 7,b7 if ! p]son :o committ$ ! violation has unfair lev]age1 #e p]c5t ( ! rev5ues e>n$ by ! p]son's ultimate p>5t entity dur+ ! prec$+ #ab-mon? p]iod4 7#e7 ,rulemak+ 7,a7 ,9 g5]al ,! ,commission may promulgate 9 accordance ) section #eec ( title #e1 ,unit$ ,/ates ,code1 su* rules z may be necess>y to c>ry out ?is ,act1 includ+ ! guidance requir$ "u subp>agraph 7,b71 guidance reg>d+ an exceptional m>ket %ock1 or additional *>act]i/ics t demon/rate unfair lev]age4 7,b7 ,requir$ guidance ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is ,act1 ! ,commission %all promulgate regulations reg>d+ violations ( ?is ,act1 :i* %all include guidel9es on :at con/itutes a m>ket1 an unconscionably excessive price = a good or s]vice1 & an excessive price = a good or s]vice4 7#f7 ,effect on o!r laws ,no?+ 9 ?is section %all be con/ru$ 9 any way to limit ! au?ority ( ! ,commission "u any o!r provision ( law4 7g7 ,en=cem5t by /ate attorneys g5]al 7#a7 ,9 g5]al ,if ! attorney g5]al ( a ,/ate1 or ano!r (ficial or ag5cy designat$ by a ,/ate1 has reason to believe t any p]son has violat$ or is violat+ ?is section1 ! attorney g5]al1 (ficial1 or ag5cy ( ! ,/ate1 9 addition to any au?ority x may h to br+ an action 9 ,/ate c\rt "u its laws1 may br+ a civil action 9 any appropriate ,unit$ ,/ates di/rict c\rt or 9 any o!r c\rt ( compet5t jurisdiction1 includ+ a ,/ate c\rt1 to-- 7,a7 enjo9 any fur!r su* violation by su* p]son2 7,b7 en=ce compliance ) ?is section2 7,c7 obta9 a p]man5t1 tempor>y1 or prelim9>y injunction2 7,d7 obta9 civil p5alties2 7,e7 obta9 damages1 re/itution1 or o!r comp5sation on behalf ( resid5ts ( ! ,/ate2 or 7,f7 obta9 any o!r appropriate equitable relief4 7#b7 ,notice ,be=e fil+ an action "u p>agraph 7#a71 ! attorney g5]al1 (ficial1 or ag5cy ( ! ,/ate involv$ %all provide to ! ,commission a writt5 notice ( su* action & a copy ( ! compla9t = su* action4 ,if ! attorney g5]al1 (ficial1 or ag5cy det]m9es t x is n feasible to provide ! notice describ$ 9 ?is p>agraph be=e ! fil+ ( ! action1 ! attorney g5]al1 (ficial1 or ag5cy %all provide writt5 notice ( ! action & a copy ( ! compla9t to ! ,commission imm$iately ^u ! fil+ ( ! action4 7#c7 ,limitation on /ate action :ile f$]al action is p5d+ ,if ! ,commission has in/itut$ a civil action = a violation ( ?is section1 no ,/ate attorney g5]al1 or (ficial or ag5cy ( a ,/ate1 may br+ an action "u ?is p>agraph dur+ ! p5d5cy ( t action aga9/ any def5dant nam$ 9 ! compla9t ( ! ,commission = any violation ( ?is section alleg$ 9 ! compla9t4 7#d7 ,relation%ip ) /ate-law claims ,if ! attorney g5]al ( a ,/ate has au?ority to br+ an action "u ,/ate law direct$ at acts or practices t also violate ?is section1 ! attorney g5]al may ass]t ! ,/ate-law claim & a claim "u ?is section 9 ! same civil action4 7h7 ,sav+s clause ,no?+ 9 ?is section %all preempt or o!rwise affect any ,/ate or local law4 #d4 ,disclosures 9 ,,sec fil+s 7a7 ,def9itions ,9 ?is section3 7#a7 ,cov]$ issu] ,! t]m cov]$ issu] means an issu] t-- 7,a7 has a cov]$ qu>t]2 & 7,b7 9 ! qu>t] foll[+ ! cov]$ qu>t] describ$ 9 subp>agraph 7,a71 is requir$ to submit ,=m #aj-,q or ,=m #aj-,k4 7#b7 ,cov]$ qu>t] ,! t]m cov]$ qu>t] means a qu>t] dur+ :i* !re is an exceptional m>ket %ock4 7#c7 ,=m #aj-,k ,! t]m ,=m #aj-,k means ! =m describ$ 9 section #bdi4caj ( title #ag1 ,code ( ,f$]al ,regulations1 or any successor regulation4 7#d7 ,=m #aj-,q ,! t]m ,=m #aj-,q means ! =m describ$ 9 section #bdj4ae;d-#ac ( title #ag1 ,code ( ,f$]al ,regulations1 or any successor regulation4 7#e7 ,issu] ,! t]m issu] has ! mean+ giv5 ! t]m 9 section #c7;a7 ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;c7a774 7b7 ,inclusion 9 fil+ ,ea* cov]$ issu]1 9 ea* ,=m #aj-,k or ,=m #aj-,q t ! cov]$ issu] is requir$ to file 9 a qu>t] foll[+ a cov]$ qu>t]1 %all include 9 ! fil+ ! foll[+ in=mation ) respect to t cov]$ qu>t]1 z comp>$ ) ! qu>t] prec$+ t cov]$ qu>t]3 7#a7 ,! p]c5tage *ange 9 ! volume ( goods or s]vices sold1 & ! p]c5tage *ange 9 ! av]age sales price ( ^? goods or s]vices1 :i* %all be brok5 d[n by mat]ial product categories1 :5 relevant1 & pres5t$ 9 a tabul> =mat4 7#b7 ,! gross m>g9s ( ! cov]$ issu]1 :i* %all be brok5 d[n by mat]ial product categories1 :5 relevant1 & pres5t$ 9 a tabul> =mat4 7#c7 ,pres5t$ 9 tabul> =mat1 ! %>e ( ! increase 9 rev5ue ( ! cov]$ issu] t is attributable to-- 7,a7 a *ange 9 ! co/ ( goods or s]vices sold by ! cov]$ issu]2 & 7,b7 a *ange 9 ! volume ( goods or s]vices sold by ! cov]$ issu]4 7#d7 ,! p]c5tage *ange 9 ! co/s ( ! cov]$ issu]1 :i* %all be brok5 d[n by category & pres5t$ 9 tabul> =mat4 7#e7 ,9 doll>s1 ! *ange 9 ! co/s ( ! cov]$ issu] & ! rev5ue ( ! cov]$ issu]1 :i* %all be pres5t$ 9 tabul> =mat4 7#f7 ,a detail$ n>rative disclosure ( ! pric+ /rategy ( ! cov]$ issu]1 :i* %all include-- 7,a7 an explanation = any increase 9 ! gross m>g9s ( mat]ial product categories1 includ+ all mat]ial causes = su* an increase1 an explanation ( h[ ea* su* mat]ial cause affect$ su* an increase1 & a description ( ! relative importance ( ea* su* mat]ial cause ) respect to su* an increase2 7,b7 an explanation = ! decisions made by ! cov]$ issu] ) respect to ! prices ( goods or s]vices sold by ! cov]$ issu]2 7,c7 if ! cov]$ issu] increas$ prices at a rate t 0 great] ?an ! rate at :i* ! co/s incurr$ by ! cov]$ issu] increas$1 ! rationale & objectives = increas+ prices 9 su* a mann]2 & 7,d7 a description ( conditions "u :i* ! cov]$ issu] plans to modify pric+ aft] ! date on :i* ! cov]$ issu] submits ! fil+4 7c7 ,regulations ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is ,act1 ! ,securities & ,ex*ange ,commission %all issue f9al regulations1 or am5d exi/+ regulations ( ! ,commission1 to c>ry out ?is section4 7d7 ,effective date ,?is section %all take effect on ! date on :i* ! ,securities & ,ex*ange ,commission issues f9al regulations "u subsection 7c7 or completes ! am5dm5ts requir$ "u t subsection1 z applicable4 #e4 ,fund+ ,9 addition to am\nts o!rwise available1 !re is appropriat$ to ! ,commission = fiscal ye> #bjbc1 out ( any money 9 ! ,treasury n o!rwise appropriat$1 #a1jjj1jjj1jjj1 to rema9 available until ,septemb] #cj1 #bjcb1 = c>ry+ out "w ( ! ,commission4