HB3562 103RD GENERAL ASSEMBLY

LRB103 27108 SPS 53476 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB3562

Introduced 2/17/2023, by Rep. Dave Vella

SYNOPSIS AS INTRODUCED:

815 ILCS 505/2BBBB new

Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that it shall be an unfair or deceptive act or practice for any petroleum-related business to sell or offer to sell any petroleum product for an amount that represents an unconscionably high price.

A BILL FOR

AN ACT concerning business.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Consumer Fraud and Deceptive Business Practices Act is amended by adding Section 2BBBB as follows:

(815 ILCS 505/2BBBB new)

Sec. 2BBBB. Petroleum products price gouging.

(a) As used in this Section:

"Petroleum product" includes, but shall not be limited to, motor fuels, as defined in Section 1.1 of the Motor Fuel Tax Law, and fuel oil used for heating or cooking purposes.

"Petroleum-related business" means any producer, supplier, wholesaler, distributor, or retail seller of any petroleum product.

(b) It is an unlawful practice under this Act for any petroleum-related business to sell or offer to sell any petroleum product for an amount that represents an unconscionably high price.

(c) For the purposes of subsection (b), a price is unconscionably high if:

(1) the amount charged represents a gross disparity between the price of the petroleum product and the price at which the same or similar petroleum product is readily obtainable by other buyers in the trade area; and

(2) the disparity is not substantially attributable to increased prices charged by the petroleum-related business suppliers or increased costs due to an abnormal market disruption.