CSSB 54(ENE): "An Act making sales of and offers to sell certain energy resources by a refiner at prices that are exorbitant or excessive an unlawful act or practice under the Alaska Unfair Trade Practices and Consumer Protection Act."
00 CS FOR SENATE BILL NO. 54(ENE) 01 "An Act making sales of and offers to sell certain energy resources by a refiner at prices 02 that are exorbitant or excessive an unlawful act or practice under the Alaska Unfair 03 Trade Practices and Consumer Protection Act." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 45.50.471(b) is amended by adding a new paragraph to read: 06 (56) violating AS 45.50.483 (sales of certain energy resources by 07 refiners). 08 * Sec. 2. AS 45.50 is amended by adding a new section to read: 09 Sec. 45.50.483. Sales of certain energy resources by Alaska refiners. (a) A 10 refiner may not sell or offer to sell an energy resource at a price that is exorbitant or 11 excessive. 12 (b) The provisions of this section apply only to sales of 13 (1) motor fuel used in an engine for the propulsion of a motor vehicle, 14 as that term is defined in AS 28.90.990, or an aircraft;
01 (2) fuel for space heating; and 02 (3) diesel fuel. 03 (c) If the attorney general believes that a refiner has engaged in or is engaging 04 in a violation of (a) of this section, the attorney general shall initiate an investigation 05 under AS 45.50.495. 06 (d) Notwithstanding the penalties authorized by AS 45.50.551, the attorney 07 general may recover, on behalf of the state, a civil penalty of not less than the greater 08 of 09 (1) 10 times the economic benefit obtained by the refiner through the 10 refiner's conduct that violated or violates this section; or 11 (2) $50,000,000. 12 (e) In this section, "refiner" means a company, corporation, or individual who 13 owns or controls, or controls through a substantially owned subsidiary, partnership, or 14 joint venture, a refinery used for the production of an energy resource described in (b) 15 of this section having total annual sales that exceed 1,000,000 gallons of all of those 16 energy resources.