Bill Text: NJ A1404 | 2010-2011 | Regular Session | Introduced

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Bill Title: Prohibits motor fuel wholesaler from increasing price more than once in 24-hour period.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-01-12 - Introduced, Referred to Assembly Transportation, Public Works and Independent Authorities Committee [A1404 Detail]

Download: New_Jersey-2010-A1404-Introduced.html

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ASSEMBLY, No. 1404

STATE OF NEW JERSEY

214th LEGISLATURE

 

PRE-FILED FOR INTRODUCTION IN THE 2010 SESSION

 

 

Sponsored by:

Assemblyman  VINCENT PRIETO

District 32 (Bergen and Hudson)

 

 

 

 

SYNOPSIS

     Prohibits motor fuel wholesaler from increasing price more than once in 24-hour period.

 

CURRENT VERSION OF TEXT

     Introduced Pending Technical Review by Legislative Counsel

  

An Act concerning motor fuels and supplementing P.L.1953, c.413 (C.56:6-19 et seq.).

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    a.  It shall be unlawful and a violation of P.L.1953, c.413 (C.56:6-19 et seq.) for any wholesaler to increase, more than once in a 24-hour period, the tank wagon price of motor fuel sold to a retailer.

     b.    Any wholesaler who violates the provisions of this section shall be guilty of a misdemeanor and subject to a civil penalty of not more than $5,000 for a first offense and not more than $10,000 for a second and each subsequent offense.

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill makes it unlawful for a wholesaler of motor fuels to increase, more than once in a 24 hour period, the tank wagon price of motor fuels sold to a retailer.

     "Tank wagon price" is defined under the "Unfair Motor Fuels Practices Act" as the invoice cost of motor fuel to the retailer.

     A wholesaler who violates this bill shall be guilty of a misdemeanor and subject to a civil penalty of not more than $5,000 for a first offense and not more than $10,000 for a second and each subsequent offense.

     Currently, a retail dealer may only change and post the price per gallon once every 24 hours, but there is no similar limitation on the price of motor fuel sold to that retailer.