The bill amends the Idaho Competition Act to include provisions addressing both monopolies and monopsonies, making it unlawful to monopolize or monopsonize any line of commerce in Idaho. It introduces a new section, 48-119, which specifically prohibits the use of pricing algorithms that diminish competition among sellers or buyers of similar goods or services. The bill outlines various unlawful activities related to pricing algorithms, including the facilitation of agreements that affect pricing and the use of non-public data from multiple sellers or buyers. It also establishes that individuals harmed by artificial pricing due to these algorithms can file private causes of action.

Additionally, the bill makes technical corrections to existing law, including updates to Section 48-113 regarding private causes of action, and clarifies that certain entities, such as market research firms and government-sponsored programs, are exempt from the new pricing algorithm regulations. The bill declares an emergency, setting an effective date of July 1, 2025, for its provisions.

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