MS HB1076

Prohibits payment card networks from charging interchange fees (swipe fees) on the state and local tax portion of credit and debit card transactions when taxes are listed separately on payment invoices

Requires payment card networks to either deduct tax amounts from interchange fee calculations at settlement or rebate the proportionate interchange fee amount attributable to taxes

Covers Mississippi sales taxes, gasoline taxes, tourism taxes, and local taxes on hotels, motels, and restaurants

Imposes civil penalties of up to $1,000 per violation payable to the plaintiff, plus requires refund of overcharges to affected merchants

Makes it unlawful to circumvent the law by increasing interchange fee rates on the non-tax portion of transactions

The bill was set to take effect July 1, 2021, but contains a provision repealing it on June 30, 2021, effectively nullifying the law