SB0370

Amends tax and fee regulations for merchants and sellers regarding electronic payment transactions.

Amends Tennessee Code to exclude certain taxes and fees from the calculation of interchange fees for electronic payment transactions. Specifically, sales and use taxes, hotel occupancy taxes, alcoholic beverage taxes, and rental vehicle surcharge taxes must be excluded from the amount on which an interchange fee is charged. Payment card networks must either deduct these taxes from the interchange fee calculation or rebate an equivalent amount to merchants and sellers.