TO CREATE THE ONLINE MARKETPLACE GUARANTEES ACT.

SB 329, now Act 426, creates the Online Marketplace Guarantees Act by defining what constitutes an "online marketplace guarantee." The law requires that such guarantees must be secondary to a business's primary operations and cannot be provided as a state or local government service. It directly affects businesses offering guarantees on online marketplaces by setting clear eligibility rules for these services. The bill focuses on clarifying regulatory boundaries for marketplace guarantees rather than imposing new fees or restrictions.