New York S05587 amends the general business law to exclude state and local taxes and fees from the amount on which interchange fees are charged for.

New York S05587 amends the general business law by adding a new article that addresses the calculation of interchange fees charged by credit card networks. It excludes the amount of state and local taxes and fees from the amount on which an interchange fee is charged for electronic payment transactions. The bill also prohibits payment card networks from altering or manipulating the computation and imposition of interchange fees.

New York S05587 amends the general business law to exclude state and local taxes and fees from the amount on which interchange fees are charged for.

New York S05587 amends the general business law by adding a new article that addresses the calculation of interchange fees charged by credit card networks. It excludes the amount of state and local taxes and fees from the amount on which an interchange fee is charged for electronic payment transactions. The bill also prohibits payment card networks from altering or manipulating the computation and imposition of interchange fees.