New Jersey A5014 prohibits credit and debit card interchange fees from being applied to sales tax and gratuity.
New Jersey A5014 prohibits payment card networks from including sales tax and gratuity when applying interchange fees to transactions. This bill aims to provide relief to business owners impacted by credit card fees, allowing small businesses in the service industry to hire more employees, invest in their business, and continue to serve their communities. Payment card networks found in violation of the bill will be subject to a $1,000 fine per transaction and must refund the interchange fee calculated on the gratuity or tax amount relative to the transaction.
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