New York S 5587: Establishes the Safe and Healthy Homes Commission

Bill Text

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 Speaker Carl E. Heastie

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S05587 Summary:

BILL NOS05587A

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SAME ASSAME AS A04017-A

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SPONSORSKOUFIS

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COSPNSRADDABBO, HARCKHAM, HINCHEY, MARTINEZ, MAYER, MURRAY, OBERACKER, RYAN C

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MLTSPNSR

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Add Art 42-A §§1120 - 1123, Gen Bus L

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Excludes the amount of state and local taxes and fees from the amount on which an interchange fee is charged for that electronic payment transaction by a credit or debit card network; prohibits a payment card network from altering or manipulating the computation and imposition of interchange fees.

Go to top S05587 Actions:

BILL NOS05587A

&nbsp

02/25/2025REFERRED TO CONSUMER PROTECTION

01/07/2026REFERRED TO CONSUMER PROTECTION

04/24/2026AMEND AND RECOMMIT TO CONSUMER PROTECTION

04/24/2026PRINT NUMBER 5587A

05/20/20261ST REPORT CAL.1296

05/21/20262ND REPORT CAL.

05/26/2026ADVANCED TO THIRD READING 

06/05/2026COMMITTED TO RULES

Go to topS05587 Committee&nbspVotes:

Go to topS05587 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05587 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5587--A

 2025-2026 Regular Sessions

 IN SENATE

 February 25, 2025
 ___________

 Introduced by Sens. SKOUFIS, ADDABBO, HARCKHAM, HINCHEY, MARTINEZ,
 MAYER, MURRAY, OBERACKER, C. RYAN -- read twice and ordered printed,
 and when printed to be committed to the Committee on Consumer
 Protection -- recommitted to the Committee on Consumer Protection in
 accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said commit-
 tee

 AN ACT to amend the general business law, in relation to the calcu-
 lation of interchange fees charged by credit card networks

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The general business law is amended by adding a new article
 2 42-A to read as follows:
 3 ARTICLE 42-A
 4 INTERCHANGE FEES
 5 Section 1120. Definitions.
 6 1121. Calculation of interchange fees.
 7 1122. Rebate of fees on tax amount.
 8 1123. Penalties.
 9 § 1120. Definitions. For purposes of this article:
 10 1. "Credit card" means a card, plate, coupon book, or other credit
 11 device existing for the purpose of obtaining money, property, labor, or
 12 services on credit.
 13 2. "Debit card":
 14 (a) means a card, or other payment code or device, issued or approved
 15 for use through a payment card network to debit an asset account,
 16 regardless of the purpose for which the account is established, whether
 17 authorization is based on signature, personal identification number, or
 18 other means; and
 19 (b) includes a general-use prepaid card, as defined in 15 U.S.C. §
 20 1693l-1; and

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04674-04-6

 S. 5587--A 2

 1 (c) does not include paper checks.
 2 3. "Electronic payment transaction" means a transaction in which a
 3 consumer uses a debit card, credit card, or other payment code or
 4 device, issued or approved through a payment card network to debit a
 5 deposit account or use a line of credit, whether authorization is based
 6 on a signature, personal identification number, or other means.
 7 4. "Interchange fee" means a fee established, charged, or received by
 8 a payment card network for the purpose of compensating the issuer for
 9 its involvement in an electronic payment transaction.
 10 5. "Issuer" means a person issuing a debit card or credit card, or the
 11 issuer's agent.
 12 6. "Payment card network" means an entity that:
 13 (a) directly, or through licensed members, processors, or agents
 14 provides the proprietary services, infrastructure, and software that
 15 routes information and data to conduct debit card or credit card trans-
 16 action authorization, clearance, and settlement; and
 17 (b) a merchant or seller uses in order to accept as a form of payment
 18 a brand of debit card, credit card, or other device that may be used to
 19 carry out debit or credit transactions.
 20 7. "Settlement" means the transfer of funds from a customer's account
 21 to a seller or merchant upon electronic submission of finalized sales
 22 transactions to the payment card network.