The bill amends Title 6 of the General Laws by adding a new chapter, CHAPTER 26.2, which addresses swipe fees associated with electronic payment transactions. It defines key terms such as "assessment fee," "interchange fee," "payment card," "swipe fee," and others. The bill stipulates that state or local taxes and gratuities, when listed separately on a payment invoice, shall be excluded from the total amount on which swipe fees are charged. Payment card networks are required to either deduct these amounts from swipe fee calculations at the time of settlement or rebate the merchant accordingly.

Additionally, the bill establishes penalties for violations, including civil penalties of up to $1,000 per violation, and allows the attorney general to take action to enforce compliance. It mandates that any swipe fees charged in violation of this chapter must be refunded to the merchant. The provisions of this chapter are designed to take effect on January 1, 2027, and include a severability clause to ensure that if any part of the chapter is deemed invalid, the remaining provisions will still apply.