The bill amends the Unfair Practices Act in New Mexico by updating definitions and increasing civil penalties for violations. Key definitions are clarified, including the terms "trade" or "commerce," which now encompass a broader range of activities such as the sale, lease, rental, or loan of goods and services, as well as the extension of credit and collection of debts. The definition of "unfair or deceptive trade practice" is also expanded to include a variety of misleading actions that may deceive consumers, while the definition of "unconscionable trade practice" is revised to apply to trade or commerce more generally, including services provided by licensed professionals.

Additionally, the bill raises the maximum civil penalty for violations of the Unfair Practices Act from $5,000 to $10,000 per violation. It introduces a provision for an additional penalty of up to $25,000 per violation if the unfair or deceptive trade practice occurs during a disaster or state of emergency. The attorney general is granted the authority to recover reasonable attorney fees and investigation costs when civil liability is imposed by the court.

Statutes affected:
introduced version: 57-12-2, 57-12-11
CE substitute: 57-12-2, 57-12-11