H.R.3409 - Anti-Pyramid Promotional Scheme Act of 2017115th Congress (2017-2018) |
|Sponsor:||Rep. Blackburn, Marsha [R-TN-7] (Introduced 07/26/2017)|
|Committees:||House - Energy and Commerce|
|Latest Action:||House - 07/28/2017 Referred to the Subcommittee on Digital Commerce and Consumer Protection. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.3409 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (07/26/2017)
Anti-Pyramid Scheme Act of 2017
This bill amends the Federal Trade Commission Act to make it unlawful for any person to establish, operate, or promote a pyramid promotional scheme. "Pyramid promotional scheme" means any plan or operation in which individuals pay consideration for the right to receive compensation that is based upon recruiting other individuals into the plan or operation rather than primarily related to the sale of products or services to ultimate users.
Furthermore, any person who establishes, operates, or promotes any plan or operation which sells or solicits the sale of consumer products or services in the home or otherwise outside of a permanent retail establishment, and which sells products or services to independent salespeople, shall have a bona fide inventory repurchase agreement.
A violation of the bill shall be treated under the Act as an unfair or deceptive act or practice in, or affecting, commerce.