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Panel adopts amendment to clarify 'rebate' definition and require traceable payments; passed as amended
CITY, COUNTY & LOCAL AFFAIRS COMMITTEE - SENATE · April 15, 2021
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Summary
Senator Johnson’s amendment to S.B. 551 clarified that permissible rebates are post-transaction payments (not off-invoice), must be paid by check or electronic transfer, and therefore create an audit trail; the committee approved the bill as amended after industry witnesses supported the changes.
Senator Johnson introduced and moved adoption of an amendment to S.B. 551 intended to address concerns about off-invoice rebates and retail pricing. Grant Fortson, representing Douglas Companies, explained that the amendment defines a rebate as a payment from…
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