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Rhode Island commerce committee holds bills limiting card fees on taxes and tips
Summary
The Senate Commerce Committee heard extensive testimony March 25 on two related bills (S 768 and S 842) that would restrict merchant interchange fees on sales-tax and gratuity amounts; the committee voted to hold both measures for further review.
Two related bills that would limit credit- and debit-card processing fees on taxes and tips drew hours of testimony before the Rhode Island Senate Commerce Committee on March 25 and were placed on hold for further study.
Senate Bill 768, sponsored by Senator Burke, would bar processors from charging interchange fees on the portion of a transaction that represents sales or other government taxes. Senate Bill 842, introduced by Senator Filag, would extend such restrictions to include gratuities and contains a separability clause to address legal challenges. Both measures were the subject of lengthy testimony from business groups, payment-industry representatives and consumer-facing trade associations.
Supporters told the committee the bills would return money to Rhode Island businesses and local economies by preventing processors from charging…
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