Bill Text: NJ A4337 | 2020-2021 | Regular Session | Introduced

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Bill Title: Concerns certain fees for credit card usage during state of emergency.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2020-07-02 - Introduced, Referred to Assembly Financial Institutions and Insurance Committee [A4337 Detail]

Download: New_Jersey-2020-A4337-Introduced.html

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ASSEMBLY, No. 4337

STATE OF NEW JERSEY

219th LEGISLATURE

 

INTRODUCED JULY 2, 2020

 

 

Sponsored by:

Assemblywoman  JEAN STANFIELD

District 8 (Atlantic, Burlington and Camden)

Assemblyman  RYAN E. PETERS

District 8 (Atlantic, Burlington and Camden)

 

 

 

 

SYNOPSIS

     Concerns certain fees for credit card usage during state of emergency.

 

CURRENT VERSION OF TEXT

     As introduced.

  

An Act concerning credit card fees and supplementing Title 56 of the Revised Statutes.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    a.  As used in this section:

     "Electronic payment system" means an entity, which is not a national bank, that directly, or through licensed members, processors or agents, provides the proprietary services, infrastructure, and software that route information and data to facilitate transaction authorization, clearance, and settlement, and that merchants access in order to accept a brand of general-purpose credit cards, charge cards, debit cards or store-valued cards as payments for goods or services.

     "Merchant" means a person or entity doing business in this State which offers goods or services for sale in this State.

     b.    Whenever a public health emergency is declared by the Governor pursuant to the "Emergency Health Powers Act," P.L.2005, c.222 (C.26:13-1 et seq.) and is in effect, or a state of emergency is declared by the governor pursuant to P.L.1942, c.251 (C.App.A:9-33 et seq.) and is in effect, or both, no electronic payment system may, directly or through an agent, acquirer, processor or member of the system, impose a fee on a merchant for the manual entry of a credit card that is higher than the fee imposed for an electronic credit card transaction.

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill prohibits an electronic payment system from imposing a fee on a merchant for the manual entry of a credit card that is higher than the fee for an electronic credit card transaction. "Electronic payment system" is defined as an entity, which is not a national bank, that directly, or through licensed members, processors or agents, provides the proprietary services, infrastructure, and software that route information and data to facilitate transaction authorization, clearance, and settlement, and that merchants access in order to accept a brand of general-purpose credit cards, charge cards, debit cards or store-valued cards as payments for goods or services. "Merchant" is defined as a person or entity doing business in this State which offers goods or services for sale in this State. The provisions of the bill would be in effect during a state of emergency declared by the governor.