H.R. 3808 · 109th Congress
Prohibiting Reprehensible Increases in Costs of Essentials (PRICE) Act of 2005
- Stage
- In committee
- Sponsor
- Bob Ney
- Introduced
- 2005-09-15
- Latest action
- 2005-10-17 · Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.
Summary
Prohibiting Reprehensible Increases in Costs of Essentials (PRICE) Act of 2005 - Amends the federal criminal code to prohibit price gouging in a time and place of disaster (as declared by the President or the chief executive of a state). Defines "price gouging" as charging a grossly disproportionate price (25 percent higher than the average price during the 30 days immediately prior to the declared emergency).
Makes it a defense to such a prosecution that the increase in the amount charged is attributable to: (1) additional costs incurred in connection with the rental or sale of the commodity or rental or lease of any dwelling unit or self-storage facility; or (2) national or international market trends.