Prohibits algorithmic price-fixing in Hawaii's rental market to prevent artificially inflated rents.
This bill aims to prevent artificially inflated rental prices in Hawaii by prohibiting the use of algorithmic price-fixing in the residential rental market. It targets software platforms that aggregate and analyze competitively sensitive data from multiple landlords to generate pricing recommendations. The bill defines "consciously parallel pricing coordination" as a tacit agreement between rental property owners to manipulate pricing. Violations are punishable by fines and imprisonment.
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