House Puts Teeth Into State's Antitrust Penalties
|Olson's HB 87 Increases Criminal Fines and Adds New Civil Fines|
Posted: April 4, 2011
(Juneau) - The Alaska State House of Representatives today unanimously passed legislation significantly increasing the state's antitrust penalties, giving the state's Department of Law stronger tools to prosecute and deter the violations.
It's about giving our laws some teeth, since now the monetary disincentive to follow the law is so low.
House Bill 87, sponsored by Rep. Kurt Olson, R-Kenai, increases antitrust criminal fines from $20-thousand to $1-million for individuals, and from $50-thousand to $50-million for organizations. The bill also turns the act from a misdemeanor to a class C felony. "It's about giving our laws some teeth, since now the monetary disincentive to follow the law is so low," Olson said. "If a court action rises to the antitrust level - which keeps markets competitive and monopolies from occurring - then the situation is tedious and involved, costing taxpayers money. HB 87 allows the state to recoup costs and lay out a real penalty to people and organizations."
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