The bill amends the Idaho Competition Act by introducing provisions related to monopsonies and pricing algorithms. Specifically, it expands the definition of unlawful practices in commerce to include both monopolizing and monopsonizing activities. Additionally, it establishes a new section, 48-119, which prohibits service providers from facilitating agreements that diminish competition regarding pricing and other commercial terms. It also makes it unlawful for sellers or buyers to use pricing algorithms that incorporate non-public data from multiple parties, thereby aiming to prevent anti-competitive behavior in the marketplace.

Furthermore, the bill modifies existing legal language in Section 48-113 to clarify the private causes of action available to individuals harmed by violations of the act. It allows for increased recovery in cases of per se violations and specifies that any monetary relief awarded should not duplicate amounts allocable to other potential plaintiffs. The bill also includes exceptions for market research firms and government-sponsored programs, ensuring that certain analyses and price cap systems are not affected by these new regulations. An emergency clause is included, making the act effective on July 1, 2025.

Statutes affected:
Bill Text: 48-105, 48-113