Alaska HB171 prohibits interchange fees on taxes and gratuities for electronic payment transactions.

Alaska HB171 amends state law to prohibit issuers, payment card networks, acquirer banks, and processors from charging merchants an interchange fee on the tax or gratuity amount of an electronic payment transaction if the merchant provides tax or gratuity documentation. The bill defines "tax" as a sales, use, or excise tax imposed by the state or a local government agency. It also outlines penalties for violations and clarifies that payment card networks are not liable for the accuracy of the tax or gratuity documentation reported by a merchant.

Alaska HB171 prohibits interchange fees on taxes and gratuities for electronic payment transactions.

Alaska HB171 amends state law to prohibit issuers, payment card networks, acquirer banks, and processors from charging merchants an interchange fee on the tax or gratuity amount of an electronic payment transaction if the merchant provides tax or gratuity documentation. The bill defines "tax" as a sales, use, or excise tax imposed by the state or a local government agency. It also outlines penalties for violations and clarifies that payment card networks are not liable for the accuracy of the tax or gratuity documentation reported by a merchant.