Summary

Prohibits hoarding and price gouging of certain materials and critical goods during declared shortages under the Defense Production Act. It defines key terms (including “acute shortage” and “critical good”), sets a presumptive standard that prices exceeding prevailing market levels by more than 10% are unfairly excessive (with limited exceptions), and creates a criminal penalty equal to the greater of $20,000 or 300% of revenue from the violation for willful breaches.

• Creates a prohibition on hoarding and price gouging of critical goods during acute shortages or when materials are designated scarce by the President.
• Defines unfairly excessive pricing with a presumptive 10% gross price disparity above prevailing market prices.
• Allows limited exceptions for legitimate business needs or additional uncontrollable costs that justify higher prices.
• Imposes a criminal penalty for willful violations equal to the greater of $20,000 or 300% of revenue from the violation.
• Amends provisions of the Defense Production Act to add definitions, pricing standards, and penalties tied to shortages.
• Shifts burden to sellers to document and justify price increases that exceed the 10% presumptive threshold.
• Applies only when an acute shortage starts or the President designates scarce materials, not as a standing general price control.