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GA SR677
Resolution
Status
Introduced
2/22/2024
Primary Sponsor
Clint Dixon
Click for details
AI Summary
- Creates a Senate study committee to examine the impact of credit card interchange ("swipe") fees charged on the state and local sales and excise tax portions of consumer transactions on Georgia merchants and consumers
- Georgia merchants paid more than $216 million in interchange fees on sales tax in 2022 and more than $20 million in swipe fees on motor fuel and alcohol excise taxes in 2021, with fees averaging 2–4% of the total transaction amount
- The committee will consist of 10 members appointed by the President of the Senate: 4 senators (including the chairs of the Banking and Financial Institutions Committee and the Agriculture and Consumer Affairs Committee) and 6 nonlegislative members representing retail, banking, payment processing, restaurant, small business, and consumer interests
- Study topics include whether swipe fees should apply to the tax portion of transactions, the breakdown and purpose of swipe fees, fraud liability imposed on merchants through chargebacks, impacts on low-income consumers, and anticompetitive practices in the payment card marketplace
- The committee must file any findings or legislative recommendations with the Secretary of the Senate and stands abolished on December 1, 2024
Legislative Description
Senate Credit Card Fees on State Sales and Excise Tax and Their Impact on Georgia Merchants and Consumers Study Committee; create
Last Action
Senate Read and Referred
2/26/2024
Committee Referrals
Rules2/26/2024
Full Bill Text
No bill text available