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House Bill 1829 |
House Author: Wong |
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Effective: 6-18-05 |
Senate Sponsor: Averitt |
House Bill 1829 amends the Education Code to allow a private or independent college or university to charge an additional transaction fee to cover the cost of processing any tuition, fee, or other charge paid by means of an electronic funds transfer or credit card. The added fee must be in an amount reasonable and necessary to reimburse the school for the expense incurred in processing and handling the payment or payment transaction; may include a discount, convenience, or service charge for the transaction or a service charge for a transaction that is dishonored or refused for insufficient funds; and must be disclosed to the payor before the school accepts a credit card payment.
The bill also amends a similar provision applicable to public colleges and universities to require that the transaction fee they charge for processing and handling the payment of tuition, fee, or other charge by electronic funds transfer or credit card be in an amount that is reasonable and necessary to reimburse them for their processing and handling expenses.