Bill
SB 1798
Overview: SB 1798 seeks to repeal the state's interchange fee, which is a charge imposed on merchants for processing credit and debit card transactions.Purpose and Intent: The bill
Overview: SB 1798 seeks to repeal the state's interchange fee, which is a charge imposed on merchants for processing credit and debit card transactions.
Purpose and Intent: The bill's primary goal is to eliminate this fee, which proponents argue places an unnecessary burden on businesses and consumers. The repeal is intended to reduce costs and potentially lead to lower prices for goods and services.
Key Provisions:
- Repeals the state's interchange fee on credit and debit card transactions
- Eliminates the requirement for merchants to pay this fee to payment processors
Affected Parties and Impacts: The repeal of the interchange fee would directly benefit merchants and businesses that accept credit and debit cards. Consumers may also see some cost savings passed on to them through lower prices. However, the bill could impact revenue for payment processors and financial institutions that currently collect the fee.
Procedural and Timeline Considerations: SB 1798 was introduced in the 2025 legislative session and has been amended to add a co-sponsor. The bill will likely proceed through the committee process and be scheduled for a vote by the full legislature in the coming months.
Compiled from official sources — confirm details with the bill’s official record.
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