Cost Justification and Price Control Act

Summary

Cost Justification and Price Control Act - Requires that whenever a Federal regulatory requirement is applicable to any class of major corporations, and the Federal Trade Commission determines that such requirement may have a significant effect on the cost of production or of providing any goods or services provided by such class of major corporations, the Commission shall prescribe a rule (1) identifying such requirement, such class of corporations, and the goods and services the cost of which may be affected by such requirement, and (2) requiring such corporations to file specified reports. Requires that if a corporation is a member of class of corporations identified in such a rule and such corporation increases the price of any goods or services identified in such a rule, then before such price increase takes effect, such corporation shall file with the Commission a report specifying any change in unit costs, resulting from such Federal regulatory requirement, of the goods or services the price of which was increased. Provides that such report shall also contain an explanation of the reasons for the price increase. Provides that such report shall be available to the public and published in the Federal Register. Provides that any cost obligation incurred as a result of compliance with any Federal regulatory requirement may only be passed through by such corporation, or by any subsequent purchaser to any utlimate purchaser of such goods or services on a dollar-for-dollar basis. Provides that if a major corporation violates this Act (1) such corporation shall be subject to a civil penalty of not more than $1,000,000 and (2) the Commission may commence an action in a district court of the United States to obtain a mandatory injunction requiring compliance by such corporation with the reporting requirements of this Act.

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1 official file

• Introduced in House

  summary · EN · 18 March 1975

  Open at official source

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