Fair Prices for Local Businesses Act

This bill strengthens the prohibition on price discrimination under the Clayton Act by expanding its scope to cover services and activities affecting commerce, and by adding new provisions on liability and damages. Sec. 2, Clayton Act amendments: The bill amends Section 2 of the Clayton Act to replace 'in commerce' with 'in commerce or in any activity affecting commerce' and 'commodities' with 'products or services' throughout. It also adds 'functional discounts' as a defense and expands the definition of 'purchase' and 'purchaser' to include any exchange of value for a product or service, regardless of title or control. A new subsection (f) makes it unlawful to induce or receive the benefit of a price discrimination violation, but for persons with annual retail sales under $100 billion, this only applies if they knowingly did so. The bill also amends Section 4 of the Clayton Act to add a new subsection (c) that creates a conclusive presumption of injury and damages equal to the amount of unlawful discrimination in price discrimination cases, while allowing plaintiffs to also prove additional damages. These amendments apply to transactions occurring on or after the date of enactment.