Cost of Living Commission Amendment Act

What this bill does

This bill updates the 1974 Cost of Living Commission Act to require grocery stores and other businesses selling essential items (like food and household goods) to electronically report their prices to the government. The government will then create a public database so Bermudians can easily compare prices of essential items across different stores.

If passed (voted YES)

• Businesses selling essential commodities must electronically submit their prices to the Cost of Living Commission within set timeframes
• The public gets access to a government website/database showing current prices of essential items at different stores across Bermuda
• Businesses that fail to report their prices face fines up to $2,000

If rejected (voted NO)

• Businesses continue operating without any requirement to report prices to the government
• Bermudians must continue checking prices by visiting stores individually or calling around
• No centralized system for comparing prices of essential items across the island

Who it affects

This primarily affects grocery stores, supermarkets, and other businesses selling essential household items who would need to comply with new reporting requirements. It also affects all Bermuda consumers who would gain easier access to price comparison information for their shopping decisions.