This bill regulates algorithmically set prices, requiring disclosure of automated pricing systems in New York, with certain exceptions and enforcement mechanisms.
If you use automated pricing systems in New York, you must disclose these systems or face legal action.
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Affected Industries
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What This Means
New York's proposed bill S 8623 seeks to regulate the use of algorithmically set prices, requiring businesses to disclose their automated pricing systems. This legislation aims to enhance transparency and accountability in pricing strategies, with specific conditions and enforcement mechanisms impacting various industries.
Key Provisions
- Regulates the use of algorithmically set prices with specific conditions.
- Requires disclosure of automated pricing systems.
- Creates a private cause of action for violations and includes additional enforcement mechanisms.
Latest Legislative Action
2ND REPORT CAL.
Bill Sponsors
| Name | Role | District |
|---|---|---|
| Brian Kavanagh D | Sponsor | SD-027 |
| Michael Gianaris D | Sponsor | SD-012 |
| Rachel May D | Sponsor | SD-048 |
Compliance Checklist
Who: Businesses utilizing algorithmically set prices.
Penalty: Legal action for violations.
Related & Companion Bills
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