Senate Bill S6748B

2023-2024 Legislative Session

Relates to actions or practices that establish or maintain a monopoly, monopsony or restraint of trade, and authorizes a class action lawsuit in the state anti-trust law

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Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Actions
Votes

Bill Amendments

co-Sponsors

2023-S6748 - Details

See Assembly Version of this Bill:
A10323
Current Committee:
Assembly Economic Development
Law Section:
General Business Law
Laws Affected:
Amd §§340, 341, 342-a & 342-b, add §§342-d & 348, Gen Bus L
Versions Introduced in 2021-2022 Legislative Session:
S933

2023-S6748 - Summary

Relates to actions or practices that establish or maintain a monopoly, monopsony or restraint of trade; authorizes a class action lawsuit in the state anti-trust law.

2023-S6748 - Sponsor Memo

2023-S6748 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6748
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                                May 8, 2023
                                ___________
 
 Introduced by Sens. GIANARIS, SALAZAR, HOYLMAN-SIGAL, JACKSON, KAVANAGH,
   MAY,  SEPULVEDA -- read twice and ordered printed, and when printed to
   be committed to the Committee on Consumer Protection
 
 AN ACT to amend the general business law,  in  relation  to  actions  or
   practices   that  establish  or  maintain  a  monopoly,  monopsony  or
   restraint of trade, and in relation  to  authorizing  a  class  action
   lawsuit in the state anti-trust law
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and may be cited  as  the  "Twenty-
 First Century Anti-Trust Act".
   §  2.  Legislative findings. The legislature hereby finds and declares
 that there is great concern for the growing accumulation of power in the
 hands of  dominant  corporations.  These  companies  possess  great  and
 increasing  power  over  all aspects of our lives. More than one hundred
 years ago, the state and federal governments identified these same prob-
 lems after corporate combinations and trusts came to dominate the econo-
 my.  Seeing those problems, the state and  federal  governments  enacted
 transformative  legislation  to  combat  cartels,  monopolies, and other
 anti-competitive business practices. It is time to  update,  expand  and
 clarify our laws to ensure that these dominant corporations cannot abuse
 their power in ways that undermine competition to the detriment of work-
 ers,  small  businesses  and  communities  in  New York. The legislature
 further finds and declares that unilateral actions which seek to  create
 a  monopoly  or  monopsony  are as harmful as contracts or agreements of
 multiple parties to do the same and should be  treated  similarly  under
 the  law.  Firms  with  monopoly  or monopsony power are contrary to the
 public interest. Accordingly, attempts to create monopolies or  monopso-
 nies  through anti-competitive conduct should also be treated as actions
 contrary to the interests of the people of the state  of  New  York  and
 should  be  penalized  accordingly.    The legislature further finds and
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02939-02-3
              

co-Sponsors

2023-S6748A - Details

See Assembly Version of this Bill:
A10323
Current Committee:
Assembly Economic Development
Law Section:
General Business Law
Laws Affected:
Amd §§340, 341, 342-a & 342-b, add §§342-d & 348, Gen Bus L
Versions Introduced in 2021-2022 Legislative Session:
S933

2023-S6748A - Summary

Relates to actions or practices that establish or maintain a monopoly, monopsony or restraint of trade; authorizes a class action lawsuit in the state anti-trust law.

2023-S6748A - Sponsor Memo

2023-S6748A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6748--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                                May 8, 2023
                                ___________
 
 Introduced by Sens. GIANARIS, SALAZAR, HOYLMAN-SIGAL, JACKSON, KAVANAGH,
   MAY,  SEPULVEDA -- read twice and ordered printed, and when printed to
   be committed to the Committee on Consumer Protection -- recommitted to
   the Committee on Consumer Protection in accordance with Senate Rule 6,
   sec. 8 -- committee discharged, bill  amended,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to  amend  the  general business law, in relation to actions or
   practices  that  establish  or  maintain  a  monopoly,  monopsony   or
   restraint  of  trade,  and  in  relation to authorizing a class action
   lawsuit in the state anti-trust law
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This  act shall be known and may be cited as the "Twenty-
 First Century Anti-Trust Act".
   § 2. Legislative findings. The legislature hereby finds  and  declares
 New  York's  great concern with the growing accumulation of power in the
 hands of dominant corporations that harms our marketplace, our  democra-
 cy, and that undermines the power of workers, consumers, and small busi-
 nesses.  It  is time to update, expand, and clarify our laws, consistent
 with the purposes of the  anti-trust  reforms  of  the  early  Twentieth
 Century,  to  police abuses of power by dominant firms.  The legislature
 further finds and declares that unilateral actions which seek to  create
 a  monopoly  or  monopsony  are as harmful as contracts or agreements of
 multiple parties to do the same and should be  treated  similarly  under
 the  law.  Firms  with  monopoly  or monopsony power are contrary to the
 public interest. The legislature further finds and  declares  that  laws
 governing  multi-firm  conduct  should  be  updated, consistent with the
 purposes of anti-trust law, to adequately address  abuses  of  power  by
 dominant  firms  embodied in coercive vertical restraints on small busi-
 nesses, workers,  and  consumers.  The  legislature  further  finds  and
 declares  that  effective  enforcement against unfair competition, espe-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02939-03-4
              

co-Sponsors

2023-S6748B (ACTIVE) - Details

See Assembly Version of this Bill:
A10323
Current Committee:
Assembly Economic Development
Law Section:
General Business Law
Laws Affected:
Amd §§340, 341, 342-a & 342-b, add §§342-d & 348, Gen Bus L
Versions Introduced in 2021-2022 Legislative Session:
S933

2023-S6748B (ACTIVE) - Summary

Relates to actions or practices that establish or maintain a monopoly, monopsony or restraint of trade; authorizes a class action lawsuit in the state anti-trust law.

2023-S6748B (ACTIVE) - Sponsor Memo

2023-S6748B (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6748--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                                May 8, 2023
                                ___________
 
 Introduced by Sens. GIANARIS, SALAZAR, HOYLMAN-SIGAL, JACKSON, KAVANAGH,
   MAY,  SEPULVEDA -- read twice and ordered printed, and when printed to
   be committed to the Committee on Consumer Protection -- recommitted to
   the Committee on Consumer Protection in accordance with Senate Rule 6,
   sec. 8 -- committee discharged, bill  amended,  ordered  reprinted  as
   amended  and  recommitted  to  said committee -- committee discharged,
   bill amended, ordered reprinted as amended  and  recommitted  to  said
   committee
 
 AN  ACT  to  amend  the  general business law, in relation to actions or
   practices  that  establish  or  maintain  a  monopoly,  monopsony   or
   restraint  of  trade,  and  in  relation to authorizing a class action
   lawsuit in the state anti-trust law
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This  act shall be known and may be cited as the "Twenty-
 First Century Anti-Trust Act".
   § 2. Legislative findings. The legislature hereby finds  and  declares
 New  York's  great concern with the growing accumulation of power in the
 hands of dominant corporations that harms our marketplace, our  democra-
 cy, and that undermines the power of workers, consumers, and small busi-
 nesses.  It  is time to update, expand, and clarify our laws, consistent
 with the purposes of the  anti-trust  reforms  of  the  early  Twentieth
 Century,  to  police abuses of power by dominant firms.  The legislature
 further finds and declares that unilateral actions which seek to  create
 a  monopoly  or  monopsony  are as harmful as contracts or agreements of
 multiple parties to do the same and should be  treated  similarly  under
 the  law.  Firms  with  monopoly  or monopsony power are contrary to the
 public interest. The legislature further finds and  declares  that  laws
 governing  multi-firm  conduct  should  be  updated, consistent with the
 purposes of anti-trust law, to adequately address  abuses  of  power  by
 dominant  firms  embodied in coercive vertical restraints on small busi-

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02939-05-4
              

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