Ohio HB665 regulates pricing algorithms by requiring transparency and prohibiting the use of nonpublic competitor data.

Ohio HB665 amends the state's antitrust laws to regulate the use of pricing algorithms. It mandates that businesses with over $5 million in gross receipts disclose to customers and employees if a pricing algorithm sets or recommends prices or commercial terms. The bill also prohibits the use of nonpublic competitor data in pricing algorithms. Violations can result in civil or criminal penalties. The attorney general can compel individuals to provide testimony, answers, or documentary material related to antitrust violations.

Ohio HB665 regulates pricing algorithms by requiring transparency and prohibiting the use of nonpublic competitor data.

Ohio HB665 amends the state's antitrust laws to regulate the use of pricing algorithms. It mandates that businesses with over $5 million in gross receipts disclose to customers and employees if a pricing algorithm sets or recommends prices or commercial terms. The bill also prohibits the use of nonpublic competitor data in pricing algorithms. Violations can result in civil or criminal penalties. The attorney general can compel individuals to provide testimony, answers, or documentary material related to antitrust violations.