Loading chat...

CT HB06460

Bill

Official Source

Status

Introduced

1/24/2025

Primary Sponsor

Joe Polletta

Click for details

Origin

House of Representatives

2025 General Assembly

AI Summary

  • Prohibits payment card networks (such as Visa and Mastercard) from calculating interchange fees on the sales and use tax portion of electronic transactions
  • Requires interchange fees to be imposed only on the pre-tax purchase amount, excluding state and local taxes
  • Aims to reduce processing costs for merchants who currently pay swipe fees on the full transaction amount including taxes
  • Referred to the Committee on Finance, Revenue and Bonding for consideration during the January 2025 session

Legislative Description

An Act Concerning Interchange Fees On Electronic Payment Transactions.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

1/24/2025

Committee Referrals

Finance, Revenue and Bonding1/24/2025

Full Bill Text

No bill text available