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 monopolization and monopsonization. Additionally, it establishes a new section, 48-119, which prohibits service providers from facilitating agreements that diminish competition regarding pricing and supply terms, as well as from using or distributing pricing algorithms that incorporate non-public data from multiple sellers or buyers. The bill also clarifies that individuals injured by artificial pricing due to these algorithms can file private causes of action under existing law.

Furthermore, the bill makes technical corrections to existing sections, including a reference update in Section 48-113, and specifies that certain entities, such as market research firms and government-sponsored programs, are exempt from the new pricing algorithm regulations. The act is set to take effect on July 1, 2025, following the declaration of an emergency.

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