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, rent, or loan of goods and services, as well as the distribution of services provided by licensed professionals. The definition of "unfair or deceptive trade practice" has been expanded to include various misleading actions and representations that can deceive consumers, while the definition of "unconscionable trade practice" has been refined to focus on practices that exploit a person's lack of knowledge or result in a significant disparity in value exchanged.

Additionally, the bill significantly raises the civil penalty for violations of the Unfair Practices Act from a maximum of $5,000 to $10,000 per violation. It introduces 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 also granted the authority to recover investigation and enforcement costs when a court imposes civil liability, thereby enhancing the enforcement mechanisms of the Act.

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