An Act prohibiting card interchange fees on tax or gratuity
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to prevent businesses from charging interchange fees on taxes and tips paid by customers using credit or debit cards. Interchange fees are typically paid by merchants to the card networks, and this legislation seeks to shift that cost onto the card issuers. The goal is to reduce the cost of doing business for small businesses and potentially lower prices for consumers.
Key provisions
- Prohibits card interchange fees.
- Specifically applies to taxes and gratuities.
- Targets fees paid by merchants to card networks.
- Seeks to shift the cost of these fees to card issuers.
- Addresses fees associated with credit and debit card transactions.
Who is affected
- Small businesses
- Merchants
- Card issuers
- Consumers
Notable changes
- This bill would change how merchants are charged for credit and debit card transactions.
Bill text
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Sponsors
Official sponsors from legislative records.
5 on record
Primary sponsor
Cynthia Stone Creem
Cosponsors
Cynthia Stone Creem
Arguments
Reasons offered for and against this legislation.
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