Vetoed by Governor Joseph Lombardo

Vote Smart's Synopsis:

Vote to amend and pass a bill that prohibits individuals or companies from using deceptive practices to intentionally raise the price of essential goods or services such as food, housing, gas, medicine, or internet, in Nevada.

Highlights:

• Prohibits individuals or businesses from manipulating the price of essential goods and services through deceptive trade practices (Sec. 1, Subsec. 1(f)).

• Defines “price manipulation” as knowingly engaging in deceptive practices to mislead consumers or manipulate the market, resulting in a price increase not based on the natural forces of supply and demand (Sec. 1, Subsec. 1(f)).

• Establishes a threshold for identifying manipulation as a price increase that meets or exceeds the 5-year average annual percentage change for that category of good or service according to the Personal Consumption Expenditures by State (SAPCE3) for the State of Nevada (Sec. 1, Subsec. 1(f)).

• Exempts conduct already regulated or authorized by certain state, federal, or local agencies, including public utilities, transportation network companies, and resort hotels (Sec. 1, Subsec. 2).

• Defines “essential goods or services” as any good or service which is needed on a daily or recurring basis for the livelihood of a person and which includes food, housing, clothing, medicine, utilities, internet access, fuel, ground transportation, and telecommunications (Sec. 1, Subsec. 6(a)).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that prohibits individuals or companies from using deceptive practices to intentionally raise the price of essential goods or services such as food, housing, gas, medicine, or internet, in Nevada.

Highlights:

• Prohibits individuals or businesses from manipulating the price of essential goods and services through deceptive trade practices (Sec. 1, Subsec. 1(f)).

• Defines “price manipulation” as knowingly engaging in deceptive practices to mislead consumers or manipulate the market, resulting in a price increase not based on the natural forces of supply and demand (Sec. 1, Subsec. 1(f)).

• Establishes a threshold for identifying manipulation as a price increase that meets or exceeds the 5-year average annual percentage change for that category of good or service according to the Personal Consumption Expenditures by State (SAPCE3) for the State of Nevada (Sec. 1, Subsec. 1(f)).

• Exempts conduct already regulated or authorized by certain state, federal, or local agencies, including public utilities, transportation network companies, and resort hotels (Sec. 1, Subsec. 2).

• Defines “essential goods or services” as any good or service which is needed on a daily or recurring basis for the livelihood of a person and which includes food, housing, clothing, medicine, utilities, internet access, fuel, ground transportation, and telecommunications (Sec. 1, Subsec. 6(a)).

Full Bill Text