The 27th Alaska State Legislature, 2011 - 2012||
Sponsor Statement: House Bill 87
Antitrust Violation Penalties
“An Act relating to civil and criminal penalties for antitrust violations.”
Posted: March 7, 2011 : vDRAFT L&C CS HB 87 VER I
Bill Version: CSHB 87(L&C)
Status: Chapter 27 SLA 11 : 2011-07-22
House Bill 87 updates the criminal penalties for the state's anti-trust laws, and adds a civil penalty provision. Under current law, an antitrust violation under AS 45.50.562 or 45.50.564 is a misdemeanor that is punishable by a fine of up to $20,000 for natural persons or $50,000 for organizations. These penalties do not serve as a significant deterrent to individuals and companies engaging in antitrust violations.
HB 87 would increase criminal fines to $1,000,000 for an individual and $50,000,000 for an organization, and make such a violation a class "C" felony. Under analogous Federal antitrust law, violations are a felony and criminal fines are set at $1 million for individuals, and $100 million for a corporation (15 U.S.C.A. § 3).
Additionally, HB 87 adds a new provision to the antitrust law that will allow the Department of Law to pursue a civil action for antitrust violations, with the same maximum penalties of $1,000,000 for a natural person and $50,000,000 for an organization. Antitrust laws in most other states already contain a civil penalty provision, with fines of varying amounts.
This update to our antitrust statutes will give the Department of Law the necessary teeth for dealing with any antitrust violations in our state. Please join us in supporting HB 87