January 5, 2024 - Introduced by Senators Hutton and Stroebel, cosponsored by Representatives Maxey, Michalski, Bodden, Allen, Murphy, Neylon, O’Connor, Penterman, Rettinger and Schmidt. Referred to Committee on Shared Revenue, Elections and Consumer Protection.
SB888,,22An Act to repeal 20.115 (1) (r), 100.26 (9), 100.30 and 100.33 (1) (g); to renumber 100.51 (1) (a) and 951.10 (1); to amend 100.201 (2) (h) 5., 100.264 (2) (intro.), 100.33 (1) (c), 100.33 (1) (h), 100.51 (6) (a), 134.04 (1), 139.39 (3), 814.04 (intro.) and 951.10 (2); and to create 100.33 (1) (em), 100.51 (1) (ag) and 951.10 (1g) of the statutes; relating to: eliminating minimum markup requirements and the prohibition on sales below cost. SB888,,33Analysis by the Legislative Reference Bureau This bill repeals the Unfair Sales Act, also known as the “minimum markup” law.
This state’s Unfair Sales Act 1) prohibits below-cost sales of any merchandise, if the sale is intended to induce the purchase of other merchandise or divert trade unfairly from a competitor; and 2) requires a “minimum markup” (a specified amount over the cost of the merchandise to the seller) to be added to sales of motor vehicle fuel, tobacco products, fermented malt beverages, liquor, or wine.