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AI Summary
This bill regulates algorithmically set prices, requiring disclosure of automated pricing systems in New York and creating a private cause of action for violations.
Business Impact
If you use automated pricing systems in New York, you must disclose these systems or face legal action.
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
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.
Key Provisions
- Regulates the use of algorithmically set prices.
- Requires disclosure of automated pricing systems.
- Creates a private cause of action for violations.
Latest Legislative Action
ADVANCED TO THIRD READING
Bill Sponsors
| Name | Role |
|---|---|
| Rachel May | Primary |
| Brian Kavanagh | Cosponsor |
| Michael Gianaris | Cosponsor |
Compliance Checklist
Disclose automated pricing systems used.
Who: Businesses utilizing algorithmically set prices.
Penalty: Legal action for violations.
Who: Businesses utilizing algorithmically set prices.
Penalty: Legal action for violations.
Related & Companion Bills
Full Legal Analysis
Bill S 8623 regulates the use of algorithmically set prices and mandates disclosure of automated pricing systems. Violations of this regulation create a private cause of action.
Official Source
Official Bill Text
View S 8623 on official legislature website →
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