Disclaimer: This page provides general informational summaries only and does not constitute legal advice. AI-generated content may contain errors. Always consult a qualified attorney for guidance specific to your situation.
Read full disclaimer →
AI Summary
SB79 seeks to regulate pricing algorithms by amending and enacting sections of the Ohio Revised Code, with specific audit, disclosure, and penalty requirements.
Business Impact
If you use pricing algorithms, you must comply with new regulations once enacted.
What do these statuses mean? ▼
Introduced
— Filed in the legislature; not yet heard in committee
In Committee
— Assigned to and being reviewed by a legislative committee
Passed
— Approved by one or both chambers; awaiting further action
Signed / Enacted
— Signed into law by the governor; may or may not be in effect yet
Dead / Vetoed
— Vetoed, failed to pass, or session expired without action
Unknown
— Status data not yet available or awaiting classification
Affected Industries
Topics How we classify →
What This Means
SB79, introduced in Ohio, aims to regulate the use of pricing algorithms by amending sections 1331.01, 1331.04, and 1331.16, and enacting sections 1331.05 and 1331.50. It is under review by the Commerce and Labor committee.
Key Provisions
- Amends sections 1331.01, 1331.04, and 1331.16 of the Revised Code.
- Enacts new sections 1331.05 and 1331.50 to regulate pricing algorithms.
- Includes specific requirements for audits, disclosures, and penalties.
- Sets standards for fairness and transparency.
Latest Legislative Action
Referred to committee: Financial Institutions, Insurance and Technology
Bill Sponsors (showing 5 of 10)
| Name | Role |
|---|---|
| Frank Hoagland | Primary |
| Kris Jordan | Primary |
| Louis W. Blessing, III | Primary |
| Michele Reynolds R | Primary |
| Tina Maharath | Primary |
Compliance Checklist
Implement transparency measures for pricing algorithms
Who: Businesses using pricing algorithms
Deadline: To be determined upon enactment
Penalty: Potential fines or sanctions for non-compliance
Who: Businesses using pricing algorithms
Deadline: To be determined upon enactment
Penalty: Potential fines or sanctions for non-compliance
Conduct audits of pricing algorithms for fairness
Who: Businesses using pricing algorithms
Deadline: To be determined upon enactment
Penalty: Potential fines or sanctions for non-compliance
Who: Businesses using pricing algorithms
Deadline: To be determined upon enactment
Penalty: Potential fines or sanctions for non-compliance
Related & Companion Bills
Full Legal Analysis
SB79, introduced in the Ohio legislature, proposes amendments to sections 1331.01, 1331.04, and 1331.16 of the Ohio Revised Code and seeks to enact new sections 1331.05 and 1331.50. The bill's primary focus is on regulating the use of pricing algorithms. It includes specific requirements for audits, disclosures, and penalties, and sets standards for fairness and transparency. The bill has been referred to the Commerce and Labor committee for further consideration.
Official Source
Official Bill Text
View SB79 on official legislature website →
Related Topics
Affected Industries
More Ohio AI Legislation
SB164
Regulate the use of artificial intelligence by health insurers
Medium
HB362
Small Loan Act-allowable charges/automated valuation model providers
Medium
HB519
Prohibit specified actions with intent to steal a motor vehicle
Medium
HB628
License artificial intelligence risk mitigation organizations
Medium
HB608
Modify the law governing property taxes and other local taxes
Medium
HB 807
Prohibit selling sensitive personal data for profit
Medium
View All OH Laws →
More Ohio AI Laws
Browse all published AI bills and regulations for Ohio.