Fair Prices for Local Businesses Act

This bill amends the Clayton Act to strengthen the prohibition on price discrimination, expanding its scope to cover services and any activity affecting commerce, and adding new provisions on liability and damages. Sec. 2, Clayton Act amendments: The bill broadens the price discrimination law by replacing 'in commerce' with 'in commerce or in any activity affecting commerce' and replacing 'commodities' and 'goods' with 'products or services' throughout. It adds 'functional discounts' as an allowed 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. It makes it unlawful to induce or receive the benefit of a price discrimination violation, but exempts persons with annual retail sales under $100 billion unless they knowingly induced or received the benefit. For lawsuits, the bill creates a conclusive presumption that a plaintiff who proves unlawful discrimination suffered injury and damages equal to the amount of the discrimination, and allows additional damages. These amendments apply to transactions on or after the bill's enactment date.