New York A 2015: Relates to actions or practices that establish or maintain a monopoly, monopsony or restraint of trade, and authorizes a class action lawsuit in the state anti-trust law

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A02015 Summary:

BILL NOA02015 

&nbsp

SAME ASSAME AS S00335

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SPONSORPeoples-Stokes

&nbsp

COSPNSRShrestha, Kelles, Gallagher, Schiavoni, Moreno

&nbsp

MLTSPNSR

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Amd §§340, 341, 342-a & 342-b, add §§342-d & 348, Gen Bus L

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Relates to actions or practices that establish or maintain a monopoly, monopsony or restraint of trade; authorizes a class action lawsuit in the state anti-trust law.

Go to top A02015 Actions:

BILL NOA02015 

&nbsp

01/14/2025referred to economic development

01/07/2026referred to economic development

Go to topA02015 Committee&nbspVotes:

Go to topA02015 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA02015 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2015

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 14, 2025
 ___________

 Introduced by M. of A. PEOPLES-STOKES, SHRESTHA, KELLES -- read once and
 referred to the Committee on Economic Development

 AN ACT to amend the general business law, in relation to actions or
 practices that establish or maintain a monopoly, monopsony or
 restraint of trade, and in relation to authorizing a class action
 lawsuit in the state anti-trust law

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. This act shall be known and may be cited as the "Twenty-
 2 First Century Anti-Trust Act".
 3 § 2. Legislative findings. The legislature hereby finds and declares
 4 New York's great concern with the growing accumulation of power in the
 5 hands of dominant corporations that harms our marketplace, our democra-
 6 cy, and that undermines the power of workers, consumers, and small busi-
 7 nesses. It is time to update, expand, and clarify our laws, consistent
 8 with the purposes of the anti-trust reforms of the early Twentieth
 9 Century, to police abuses of power by dominant firms. The legislature
 10 further finds and declares that unilateral actions which seek to create
 11 a monopoly or monopsony are as harmful as contracts or agreements of
 12 multiple parties to do the same and should be treated similarly under
 13 the law. Firms with monopoly or monopsony power are contrary to the
 14 public interest. The legislature further finds and declares that laws
 15 governing multi-firm conduct should be updated, consistent with the
 16 purposes of anti-trust law, to adequately address abuses of power by
 17 dominant firms embodied in coercive vertical restraints on small busi-
 18 nesses, workers, and consumers. The legislature further finds and
 19 declares that effective enforcement against unfair competition, espe-
 20 cially on the part of dominant firms, has been impeded by courts, for
 21 example, applying narrow definitions of monopolies and monopolization,
 22 limiting the scope of unilateral conduct, making it excessively diffi-
 23 cult to challenge unfair competition and unreasonably heightening the

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00787-01-5

 A. 2015 2

 1 legal standards that plaintiffs and government enforcers must overcome
 2 to establish violations of those laws. The legislature further finds and
 3 declares that one of the purposes of the state's anti-trust laws is to
 4 ensure that our labor markets are open and fair. The legislature further
 5 finds and declares that anti-competitive practices harm great numbers of
 6 citizens and therefore must ensure that those harmed by monopolies or
 7 monopsonies may seek redress through private enforcement.
 8 § 3. Section 340 of the general business law, as amended by chapter 12
 9 of the laws of 1935, subdivision 1 as amended by chapter 893 of the laws
 10 of 1957, subdivision 2 as amended by chapter 805 of the laws of 1984,
 11 subdivisions 3 and 4 as renumbered by chapter 502 of the laws of 1948,
 12 subdivision 5 as amended by chapter 333 of the laws of 1975 and subdivi-
 13 sion 6 as amended by chapter 31 of the laws of 1999, is amended to read
 14 as follows:
 15 § 340. Contracts or agreements for monopoly, monopsony, or in
 16 restraint of trade illegal and void. 1. Every contract, agreement,
 17 arrangement or combination whereby
 18 A monopoly or monopsony in the