This bill introduces new regulations regarding interchange fees on tax and gratuity amounts in electronic payment transactions, as well as provisions for wage payments via payroll card accounts. Specifically, it prohibits payment card networks from charging merchants interchange fees on tax or gratuity amounts if the merchant provides the necessary documentation during the transaction process. If documentation is not provided at the time of the transaction, merchants have up to 180 days to submit it and receive a credit for the interchange fee charged. Additionally, the bill establishes civil penalties for payment card networks that violate these provisions and clarifies the responsibilities of various entities involved in electronic payment transactions.

Furthermore, the bill allows employers to credit employee wages to payroll card accounts, provided that employees voluntarily authorize this method of payment. Employers must inform employees about their wage payment options, the terms and conditions of the payroll card, and any associated fees. The bill mandates that payroll card accounts offer at least one cost-free withdrawal per week and prohibits fees for certain transactions related to the payroll card. It also ensures that funds in payroll card accounts are insured and does not limit employees' rights to negotiate for better payment mechanisms.

Statutes affected:
SB0079A, AM SB 79, introduced 01/31/2025: 23.10.040, 23.10.044, 37.25.050
SB0079B, AM HCS SB 79(L&C), introduced 05/18/2025: 23.10.040, 23.10.044, 37.25.050, 23.10.043, 45.50.471, 06.90.020