HR 17078 · 93th Congress · Retail trade

Windfall Profits Prevention Act

Introduced 1974-10-03· Sponsored by Rep. Maraziti, Joseph J. [R-NJ-13]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Agriculture.(1974-10-03)

Plain Language Summary

[AI summary unavailable — showing source text] Windfall Profits Prevention Act - Provides that any interested person who has reason to believe that any price of consumer commodities or food permits the retailer thereof windfall profits may petition the Attorney General for a determination of the issue. Provides that, if the Attorney General finds that such a price results in windfall profits, he may specify a lower price for the item which may not be raised without his approval. Permits the Attorney General to order the refund of windfall profits received after a hearing of the retailer. States that any determination under this Act shall be subject to judicial review. States that any willful violation of a determination by the Attorney General under this Act shall be punished by a fine not to exceed $10,000,…

Summarized by Claude AI · Non-partisan · For informational purposes only