Establishes "Fair Price Protection Act."*
What changed between versions
The separate definition of 'personalized algorithmic pricing' was removed and merged into a redefined 'surveillance pricing' term that now covers both algorithmic price variation based on personal data AND pricing based on data collected through electronic surveillance technology (sensors, cameras, device tracking, biometric monitoring).
A new definition of 'Price' was added, covering stated monetary amounts before or after discounts, hypothetical discounts, and targeted discounts as defined in N.J.A.C.13:45A-9.1.
The definition of 'electronic shelving label' was broadened by removing the 'Internet-connected' requirement and explicitly including labels visible only after scanning a QR code, barcode, or other code.
The definition of 'location' was narrowed by removing exceptions for data used to 'calculate operational costs, or assess supply, demand, and local marketplace conditions,' making it easier to find a location-based pricing violation.
The definition of 'bona fide discount' was narrowed by requiring the lower price to be in a person's 'recent, regular course of business,' not just widely offered to the public.
The definition of 'personal data' was narrowed from applying to any 'person' to only 'consumer,' limiting the bill's reach to consumer-facing pricing rather than all person-to-person interactions.
A new 24-hour limit was added to the cost-based pricing exception: prices may not be changed more than once in a 24-hour period when offering different prices based on reasonable costs of providing goods to different consumers.
The bona fide discount exception now requires eligibility conditions to be 'publicly and conspicuously disclosed' rather than just 'conspicuously disclosed,' adding a public disclosure requirement.
A new loyalty program exception was added for programs that include pricing benefits offered by another person, subject to four conditions: voluntary opt-in, uniform pricing benefits for all members, clear and conspicuous disclosures of pricing benefits and data practices to participants, and public disclosure of all pricing benefits, discounts, and data practices.
The loyalty program exception was expanded from covering only 'coupons' to also covering 'discounts, rebates, or coupons.'
The Attorney General's enforcement authority was dramatically expanded. Previously limited to violations of specific sections (3(a) and 4), the AG can now bring civil action for any violation of the act, a related pending bill, any regulations, or whenever the AG deems it in the public interest.
The penalty provision was clarified to apply to 'negligent or greater' violations, specifying the standard for when actual damages or $50,000 per violation applies.
The effective date was extended from 7 months after enactment to 13 months after enactment, giving agencies more time to prepare for implementation.