The bill amends the Shopping Reform and Modernization Act by updating definitions and regulations related to pricing and advertising practices in retail. Key insertions include the definitions of "dynamic pricing," which adjusts prices based on various non-individualized consumer data, and "surveillance pricing," which increases prices based on an individual's personal identifiable data. The bill also introduces the concept of "retailer loyalty programs," which may utilize personal data to offer price reductions. Additionally, it specifies that the total price of consumer items must be displayed at the point of sale, with certain exceptions, and prohibits the use of surveillance pricing in this display.

Furthermore, the bill modifies the legal recourse available to individuals who suffer losses due to violations of the act. It allows individuals to seek a declaratory judgment or injunction if the Attorney General or prosecuting attorney does not act within 60 days of being notified of a violation. It also establishes that individuals can pursue damages for violations, with a minimum recovery amount specified. Notably, the bill clarifies that certain provisions do not apply to violations related to surveillance pricing. The amendments are set to take effect 30 days after enactment, contingent upon the passage of related legislation.

Statutes affected:
Substitute (H-2): 445.312
House Introduced Bill: 445.312, 445.317
As Passed by the House: 445.312