The proposed bill introduces a new chapter, CHAPTER 61, titled "Protecting Rhode Islanders from Coercive Economic Tactics at Grocery Stores," to Title 6 of the General Laws concerning commercial law. This chapter, known as the Price Tags Act, aims to protect consumers in Rhode Island from coercive economic tactics employed by grocery suppliers and retailers.

The chapter establishes definitions for key terms such as "covered goods," "covered retailers," "covered suppliers," "covered wholesalers," and "dominant covered retailers." It outlines the obligations of covered suppliers to ensure price fairness, specifically prohibiting them from offering different terms of sale to retailers based on their market position. Suppliers are required to provide anonymized terms of sale upon request from covered retailers or wholesalers.

The bill also details enforcement mechanisms, allowing the Attorney General, as well as affected retailers and wholesalers, to file suit to obtain injunctions and civil penalties for violations. It includes provisions for liability defenses for suppliers and retailers, as well as immunity for suppliers who comply with demands from dominant retailers, provided they disclose such conduct to the Attorney General.

The act is designed to promote fair competition and transparency in the grocery market and will take effect immediately upon passage.