UPDATE: New York’s Groundbreaking Antitrust Bill Is Reported Out of Committee and Advances to the Senate Floor Calendar
New York took a step closer to launching an antitrust revival in the state today as the New York Senate Consumer Protection Committee voted to send S933A—a groundbreaking antitrust bill that would fundamentally reshape antitrust law and enforcement in the Empire State—to the full Senate floor calendar.
As this blog previously reported, although New York’s Twenty-First Century Antitrust Act passed the Senate last year (43-20), it did not pass the Assembly before the legislative session closed. The Senate committee considered the antitrust reform bill to revive it in the new legislative session. This may be the year the bill becomes law.
Committee Chair Sen. Kevin Thomas (D) presided over the meeting, which was attended by Ranking Member Sen. Mario Mattera (R, C, IP), and committee members Sen. Zellnor Myrie (D), Sen. Elijah Reichlin-Melnick (D, WF), and Sen. James Tedisco (R, C). The bill’s sponsor, Deputy Majority Leader Sen. Michael Gianaris, also attended.
There was no discussion on the bill, and after a motion by Sen. Myrie (D), seconded by Sen. Reichlin-Melnick (D, WF), the committee voted. Committee Chair Sen. Thomas (D), Sen. Myrie (D), and Sen. Reichlin-Melnick (D, WF) voted aye; Ranking Member Sen. Mattera (R, C, IP) voted aye without recommendation; and Sen. Tedisco (R, C) voted nay. The New York State Senate website reflects a final vote of five ayes, one aye with reservations, and one nay. The bill was reported and is now on the Senate floor calendar. To become law, the bill must pass the Senate and the Assembly and be signed into law by the Governor.
As Constantine Cannon lawyers have extensively covered, the bill would (1) introduce an “abuse of dominance” antitrust standard; (2) launch a broad premerger review program to protect consumers; and (3) make New York “Antitrust Central,” including by allowing for recovery of expert fees and by giving antitrust plaintiffs a means to avoid federal precedent on two-sided markets.
Constantine Cannon also hosted a webinar featuring Sen. Gianaris and leading antitrust scholars and practitioners, who examined how the bill would change antitrust law and the competitive landscape.
Anyone interested in the future of antitrust law should keep watching New York.
Written by Daniel Vitelli
Edited by Gary J. Malone