Trade: consumer goods and services; use of certain algorithms and protected class data to set prices; prohibit. Amends sec. 3 of 1976 PA 331 (MCL 445.903) & adds sec. 3j.

The bill aims to prohibit the use of certain algorithms and protected class data when setting prices for consumer goods and services. This means businesses would not be allowed to use specific data that could lead to unfair pricing practices based on characteristics like race, gender, or age. The goal is to promote fairer pricing for all consumers.

Supporters of the bill would highlight it as a significant step towards ensuring fairness and equity in pricing for all consumers. By banning discriminatory pricing practices, this legislation aims to protect vulnerable groups from being unfairly targeted or charged higher prices based on their demographic information.

Critics might argue that the bill could limit businesses' ability to use data-driven strategies to set prices, potentially leading to less competitive markets. They may claim that the restrictions could hinder innovation and efficiency in pricing models that benefit consumers overall.