Honorable Charles Schwertner, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB2026 by Campbell (Relating to the charging of swipe fees on certain electronic payment transaction; authorizing a civil penalty.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would require a merchant who accepts electronic payments (e.g., credit cards) from customers to deduct the amount of a gratuity and state or local tax imposed from the calculation of swipe fees associated with the transaction at the time of settlement and payable to the payment card network.
This analysis assumes the bill's provisions would have no impact on state or local tax collections. Rather, that the bill would involve gains or losses of amounts between merchants and payment card networks.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 466 Office of Consumer Credit Commissioner, 802 Parks and Wildlife Department