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OK SB1095
Bill
Status
2/3/2025
Primary Sponsor
Julie Daniels
Click for details
AI Summary
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Creates new Section 2-418 of Title 14A of Oklahoma Statutes relating to credit card transaction fees.
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Defines "interchange transaction fee" and "network fee" by reference to 15 U.S.C., Section 1693o-2.
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Prohibits merchants from being charged network fees or interchange transaction fees on transaction portions that pay sales tax, excise tax, and customer tips.
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Prohibits merchants from being charged network fees or interchange transaction fees on transaction portions that pay donations to nonprofit organizations exempt from taxation under 26 U.S.C., Section 501(c)(3).
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Becomes effective November 1, 2025.
Legislative Description
Credit sales; prohibiting charge of network fees and interchange fees on certain transactions. Effective date.
Last Action
Remove as author Senator Thompson; authored by Senator Daniels
3/3/2025