This bill establishes restrictions on payment card networks regarding the implementation of interchange fees. Specifically, it prohibits these networks from charging interchange fees that include a percentage of the gross dollar amount of a debit or credit card transaction without excluding any taxes or gratuities. Additionally, it prevents networks from increasing interchange fees or other related fees that apply to portions of transactions not attributable to taxes or gratuities, and it restricts the establishment of fee schedules based on fees used by other issuers unless they fall below specified thresholds for eligible contributions made via debit or credit cards.

To ensure compliance, the bill mandates that payment card networks either exclude taxes and gratuities from interchange fee calculations at the time of settlement or rebate the difference within 30 days. Violations of these provisions can result in civil penalties of up to $1,000 per incident, along with a requirement to refund improperly collected fees. The Attorney General is empowered to seek injunctive relief and restitution for violations, reinforcing the bill's intent to protect consumers and merchants from excessive interchange fees.