HB 23-1192

House Bill 23-1192, which has been signed into law in Colorado, extends the period during which businesses cannot engage in price gouging after a disaster declaration from 180 days to the end of all declarations related to that disaster. It also updates and strengthens the state's antitrust laws by increasing penalties for violations up to $1 million per violation and allowing the attorney general more authority to investigate and take action against unfair business practices. This bill affects consumers and businesses, particularly those operating during emergencies or engaging in competitive market activities. Since it has been signed into law and is now effective, these new protections are already in place to safeguard Colorado residents from price gouging and anticompetitive behavior.

Official Summary

Under current law, a person commits an unfair and unconscionable act or practice if the person engages in price gouging with regard to the sale or provision of certain goods or services during, and for a certain period after, a declared emergency disaster (disaster period). The act extends the disaster period from 180 days after the first declaration of the disaster to 180 days after the final declaration concerning the disaster expires. The act also repeals and reenacts the "Colorado Antitrust Act of 1992" as the "Colorado State Antitrust Act of 2023" (antitrust act) and: Establishes that the facilitation or aiding and abetting of another person's violation of the antitrust act is itself a violation of the antitrust act; Authorizes the attorney general (AG) to request discovery from any person that the AG believes may in the future engage in, or has information related to, a violation of the antitrust act; Authorizes the AG to deem investigatory or intelligence records related to the antitrust act available for public inspection and allows the AG to issue public statements or warnings regarding conduct forming the basis of the investigatory or intelligence records; Authorizes a court, upon request of the AG, to compensate a person that has been injured from a violation of the antitrust act as part of a civil action that the AG brings on behalf of the person; Increases the maximum civil penalty that a court may award for a violation of the antitrust act from $250,000 to $1,000,000 per violation; and With regard to the statute of limitations for commencing a civil action under the antitrust act: Clarifies that a cause of action accrues on the date of the last in a series of acts or practices that, in the aggregate, constitute a violation of the antitrust act; and Tolls the statute of limitations for any civil action pertaining to an alleged violation of the antitrust act during the pendency of a federal proceeding regarding the conduct forming the basis of the alleged violation of the antitrust act. APPROVED by Governor June 7, 2023 EFFECTIVE June 7, 2023 (Note: This summary applies to this bill as enacted.)

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