Federal Price Gouging Prevention Act

Bill: 110-hr-1252
Sponsor: Rep. Stupak, Bart [D-MI-1]
Introduced: 2007-02-28 in the House
Policy area: Commerce
Subjects: Administrative procedure
Civil actions and liability
Consumer education
Crime and Law Enforcement
Electronic government information
Emergency Management
Energy
Energy assistance for the poor
Energy prices
Energy supplies
Federal Trade Commission
Fines (Penalties)
Fraud
Gas industry
Gasoline
Government Operations and Politics
Government paperwork
Government publicity
Independent regulatory commissions
Law
Market manipulation
Natural gas
Parties to actions
Petroleum
Petroleum industry
Profit
Restrictive trade practices
Retail trade
Service stations
Social Welfare
Wholesale trade

Summary:
action_date: 2007-02-28
text: 
Federal Price Gouging Prevention Act - Makes it unlawful for any person to sell crude oil, gasoline, natural gas, or petroleum distillates at a price that: (1) is unconscionably excessive; or (2) indicates the seller is taking unfair advantage unusual market conditions or the circumstances of an emergency to increase prices unreasonably.
 
Declares unlawful: (1) intentional reporting of false price information concerning wholesale prices of such products; and (2) market manipulation regarding the purchase or sale at wholesale of such products.
 
Empowers the Federal Trade Commission (FTC) and State Attorneys General to enforce this Act.
 
Sets forth civil and criminal penalties for violations of this Act.
 
Requires fines and penalties collected under this Act to be deposited in a separate fund in the treasury to be known as the Consumer Relief Trust Fund to provide assistance under the Low Income Home Energy Assistance Program (LIHEAP) administered by the Secretary of Health and Human Services.
 
Declares that nothing in this Act preempts state law.
 
Directs the FTC to facilitate price transparency in wholesale markets for the sale of crude oil and essential petroleum products.

action_date: 2007-05-23
text: 
Federal Price Gouging Prevention Act - (Sec. 2) Makes it unlawful during a period proclaimed by the President as an energy emergency to sell gasoline or any other petroleum distillate at a price that: (1) is unconscionably excessive; or (2) indicates the seller is taking unfair advantage of the circumstances of an emergency to increase prices unreasonably.
 
Authorizes the President to issue an energy emergency proclamation and to cite the geographic area covered, the gasoline or other petroleum distillate covered, and the time period that it shall be in effect.
 
Limits such proclamation to a period of up to 30 consecutive days, but authorizes renewals of up to 30 days.
 
Authorizes a proclamation to include a period of up to one week preceding a reasonably foreseeable emergency.
 
Sets forth factors to be considered in determining whether a violation of this Act has occurred. 
 
Declares unlawful any false or misleading reporting to a federal agency of price information with actual knowledge, or knowledge fairly implied on the basis of objective circumstances, that such information is false or misleading.
 
 Exempts from this Act a sale of gasoline or other petroleum distillate transaction on a futures market.
 
(Sec. 3) Empowers the Federal Trade Commission (FTC) and state attorneys general to enforce this Act.
 
Subjects any person who violates this Act to specified civil and criminal penalties.
 
States that the criminal penalty may be imposed only pursuant to a criminal action brought by the Attorney General or other officer of the Department of Justice.
 
(Sec. 5) Provides that a state, as parens patriae, may bring a civil action in federal district court to enforce the unconscionable pricing prohibition of this Act, or to impose the civil penalties authorized by this Act, whenever the state's attorney general has reason to believe that the interests of state residents have been or are being threatened or adversely affected by a violation of this Act, or a regulation under it, which involves a retail sale.
 
(Sec. 6) Requires fines and penalties collected under this Act to be deposited in a separate Consumer Relief Trust Fund in the Treasury to provide assistance under the Low Income Home Energy Assistance (LIHEAP) Program administered by the Secretary of Health and Human Services.
 
(Sec. 7) Declares that nothing in this Act preempts state law.


Legislative actions:
action_date: 2007-06-05
text: Referred to the Subcommittee on Healthy Families and Communities.
action_date: 2007-05-24
text: Received in the Senate and Read twice and referred to the Committee on Commerce, Science, and Transportation.
action_date: 2007-05-23
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2007-05-23
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 284 - 141 (Roll no. 404). (text: CR H5628-5629)
action_date: 2007-05-23
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 284 - 141 (Roll no. 404).(text: CR H5628-5629)
action_date: 2007-05-23
text: Considered as unfinished business. (consideration: CR H5647)
action_date: 2007-05-23
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2007-05-23
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 1252.
action_date: 2007-05-23
text: Considered under suspension of the rules. (consideration: CR H5628-5636)
action_date: 2007-05-23
text: Mr. Rush moved to suspend the rules and pass the bill, as amended.
action_date: 2007-03-01
text: Referred to the Subcommittee on Commerce, Trade and Consumer Protection.
action_date: 2007-02-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-02-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-02-28
text: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-02-28
text: Introduced in House
action_date: 2007-02-28
text: Introduced in House