Florida Senate - 2016                        COMMITTEE AMENDMENT
       Bill No. CS for SB 260
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  01/20/2016           .                                

       The Committee on Judiciary (Ring) recommended the following:
    1         Senate Amendment (with title amendment)
    3         Delete lines 24 - 54
    4  and insert:
    5         Section 1. Subsection (1) of section 501.0117, Florida
    6  Statutes, is amended to read:
    7         501.0117 Credit cards; transactions in which seller or
    8  lessor prohibited from imposing surcharge; penalty.—
    9         (1) A seller or lessor in a sales or lease transaction may
   10  not impose a surcharge on the buyer or lessee for electing to
   11  use a credit card in lieu of payment by cash, check, or similar
   12  means, if the seller or lessor accepts payment by credit card. A
   13  surcharge is any additional amount imposed at the time of a sale
   14  or lease transaction by the seller or lessor that increases the
   15  charge to the buyer or lessee for the privilege of using a
   16  credit card to make payment. Charges imposed pursuant to
   17  approved state or federal tariffs are not considered to be a
   18  surcharge, and charges made under such tariffs are exempt from
   19  this section. A convenience fee imposed upon a student or family
   20  paying tuition, fees, or other student account charges by credit
   21  card to a William L. Boyd, IV, Florida resident access grant
   22  eligible institution, as defined in s. 1009.89, or to a private
   23  school, as defined in s. 1002.01, is not considered to be a
   24  surcharge and is exempt from this section if the amount of the
   25  convenience fee does not exceed the total cost charged by the
   26  credit card company to the institution. The term “credit card”
   27  includes those cards for which unpaid balances are payable on
   28  demand. This section does not apply to the offering of a
   29  discount for the purpose of inducing payment by cash, check, or
   30  other means not involving the use of a credit card, if the
   31  discount is offered to all prospective customers.
   32         Section 2. Section 670.108, Florida Statutes, is amended to
   33  read:
   34         670.108 Relationship to Electronic Fund Transfer Act
   35  Exclusion of consumer transactions governed by federal law.—
   36         (1)Except as provided in subsection (2), this chapter does
   37  not apply to a funds transfer any part of which is governed by
   38  the Electronic Fund Transfer Act of 1978 (Title XX, Pub. L. No.
   39  95-630, 92 Stat. 3728, 15 U.S.C. ss. 1693 et seq.), as amended
   40  from time to time.
   41         (2)This chapter applies to a funds transfer that is a
   42  remittance transfer as defined in the Electronic Fund Transfer
   43  Act, 15 U.S.C. s. 1693o-1, as mended from time to time, unless
   44  the remittance transfer is an electronic fund transfer as
   45  defined in the Electronic Fund Transfer Act, 15 U.S.C. s. 1693a,
   46  as amended from time to time.
   47         (3)If there is an inconsistency between a funds transfer
   48  under this chapter and the Electronic Fund Transfer Act, the
   49  Electronic Fund Transfer Act governs the inconsistency.
   50         Section 3. Section 701.03, Florida Statutes is amended to
   51  read:
   52         701.03 Cancellation.—
   53         (1) Whenever the amount of money due under a promissory
   54  note secured by a on any mortgage is shall be fully paid, the
   55  mortgagee or assignee shall within 45 60 days after satisfaction
   56  of the mortgage thereafter cancel the mortgage same in the
   57  manner provided by law, unless the mortgage is an open-end
   58  mortgage.
   59         (2)A mortgage that is an open-end mortgage as provided in
   60  the loan agreement may be canceled upon written notice from the
   61  borrower of the intent to close the mortgage. The mortgagee or
   62  assignee shall cancel the open-end mortgage within 45 days after
   63  receiving the notice. This subsection does not apply to an open
   64  end mortgage existing before July 1, 2016, if the loan agreement
   65  contained procedures for canceling the mortgage.
   67  ================= T I T L E  A M E N D M E N T ================
   68  And the title is amended as follows:
   69         Delete lines 3 - 16
   70  and insert:
   71         501.0117, F.S.; providing that a convenience fee
   72         imposed upon a student or family paying certain fees
   73         by credit card to a private school is not considered a
   74         surcharge; amending s. 670.108, F.S.; revising
   75         applicability; providing that ch. 670, F.S., governs
   76         certain funds transfers that are remittance transfers;
   77         providing that the federal Electronic Fund Transfer
   78         Act governs any inconsistency between a funds transfer
   79         made under the federal act and a funds transfer made
   80         under ch. 670, F.S.; amending s. 701.03, F.S.;
   81         reducing the time limit for a mortgagee or an assignee
   82         to cancel a mortgage, except in cases where the loan
   83         is an open-end mortgage; authorizing an open-end
   84         mortgage to be canceled within a specified timeframe
   85         if the borrower provides written notice of his or her
   86         intent to close the open-end mortgage; providing
   87         applicability;