Drought-Related Overpricing Prevention Act: Protecting Water Rights
This act aims to protect citizens from unfair price increases for water rights during droughts. The Federal Trade Commission (FTC) will establish rules to prevent entities from selling or leasing water rights at excessive prices by using drought as an excuse. This ensures that access to water remains fair and affordable during challenging conditions.
Key points
Prohibition on water rights price gouging: Companies will be prevented from selling or leasing water rights at excessively high prices if a drought is used as a pretext for the increase.
Exemptions for small businesses and governments: The rules will not apply to entities with less than $100 million in annual revenue, nor to state, local, or tribal governments.
Defining excessive price: A price will be considered excessive if it's significantly higher than the average price from the 120 days before the drought and the drought is used as a pretext for the increase.
Enforcement by FTC: The Federal Trade Commission will enforce these regulations, and violations will be treated as unfair trade practices.
Status:
Expired
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