HB15-1154

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HB15-1154 - No Credit Card Fee On Tax Portion Of Sale

Postponed Indefinitely
Concerning A Prohibition Against The Imposition Of An Interchange Fee On The Portion Of The Total Amount Of An Electronic Payment Transaction That Represents Nonfederal Taxes.

The bill prohibits the collection of an interchange fee, defined as a fee established by a payment card network for the purpose of compensating the issuer of a credit or debit card for its involvement in an electronic payment transaction, on the portion of the total price that represents taxes imposed by the state or a local government. A 2-year grace period allows for the continuation of existing contracts and software that do not separately account for taxes, but the bill applies to all transactions on and after July 1, 2017.

House Committees

Latest update: March 4, 2015
03/04/2015 House Committee on Finance Postpone Indefinitely
01/29/2015 Introduced In House - Assigned to Finance