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House approves towing surcharge amendment allowing credit-card processing pass-through up to 3%
Summary
The House approved House Bill 129 on Feb. 11, 2016, permitting tow companies that are required to accept credit cards to pass through processing costs capped at 3%. The bill passed 57–16 after extended floor questioning about transaction fees and market effects.
Representative Stratton moved to uncircle House Bill 129, explaining the bill would allow tow companies that are required by statute to accept credit cards to add a processing surcharge up to 3 percent to cover transaction costs. Stratton said the change fixes an inequity because companies forced to accept cards cannot always recover processing fees.…
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