The "Sales Tax Swipe Fee Fairness Act" aims to amend the South Carolina Code of Laws by adding Section 37-1-320, which prohibits credit card payment processors from charging swipe fees on the sales tax portion of retail transactions. This legislation mandates that point-of-sale systems automatically exclude sales tax from any fee calculations. Additionally, it empowers the Department of Consumer Affairs to create necessary regulations for the implementation of this section, in consultation with the Department of Revenue.

The bill defines key terms, including "credit card payment processor," which refers to companies that facilitate electronic transactions for businesses, and "swipe fees," which are the transaction fees merchants incur when customers use credit or debit cards. The act is set to take effect upon approval by the Governor.

Statutes affected:
12/17/2025: 37-1-320
Latest Version: 37-1-320