View full title
Prohibits the use of algorithmically set prices; requires the disclosure of automated pricing systems; creates a private cause of action for violations of such prohibition.
This bill prohibits certain entities from using algorithmically set prices, mandates clear disclosure of automated pricing systems, and allows private action under specific conditions.
What do these statuses mean? ▼
Affected Industries
Topics
What This Means
The proposed legislation in New York aims to regulate algorithmically set prices by prohibiting their use by specific entities and requiring clear disclosures of automated pricing systems. It introduces a private right of action under defined conditions.
Key Provisions
- Prohibits the use of algorithmically set prices by specific entities.
- Requires clear disclosure of automated pricing systems, defined as a written statement.
- Establishes a private right of action for consumers harmed by violations, under specific conditions.
Latest Legislative Action
REFERRED TO CONSUMER PROTECTION
Bill Sponsors
| Name | Role | District |
|---|---|---|
| Rachel May D | Sponsor | SD-048 |
| Michael Gianaris D | Sponsor | SD-012 |
Compliance Checklist
Who: All entities using such pricing in New York.
Penalty: Civil penalties up to $25,000 for repeated violations.
Who: Entities using automated pricing systems.
Penalty: Potential civil penalties and private lawsuits.
Related & Companion Bills
Full Legal Analysis
Full Analysis for Subscribers
Get the complete legal breakdown, compliance checklist, enforcement timeline, and expert commentary on S08623.
Unlock Full Analysis →Official Source
Related Topics
Affected Industries
More New York AI Legislation
More New York AI Laws
Browse all AI bills and regulations tracked for New York.