Florida Senate - 2023 COMMITTEE AMENDMENT Bill No. CS for CS for SB 564 Ì863646BÎ863646 LEGISLATIVE ACTION Senate . House . . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Rules (Hutson) recommended the following: 1 Senate Amendment (with directory and title amendments) 2 3 Delete lines 93 - 117 4 and insert: 5 (3) This section does not create liability for a payment 6 card network regarding the accuracy of the tax data reported by 7 the merchant. 8 (4) Except as provided in subsection (2), an issuer, a 9 payment card network, an acquirer bank, or a processor may not 10 receive or charge the merchant any interchange fees on the tax 11 amount of an electronic payment transaction if the merchant 12 informs the acquirer bank or its designee of such tax amount as 13 part of the authorization or settlement process for the 14 electronic payment transaction. A merchant must transmit the tax 15 amount data as part of the authorization or settlement process 16 to avoid being charged interchange fees on the tax amount of an 17 electronic payment transaction. 18 (5) A merchant that does not transmit the tax amount data 19 in accordance with subsection (4) may submit tax documentation 20 for the electronic payment transaction to the acquirer bank or 21 its designee no later than 180 days after the date of the 22 electronic payment transaction, and within 30 days, the issuer 23 must credit to the merchant the amount of interchange fees 24 charged on the tax amount of the electronic payment transaction. 25 (6) An issuer, a payment card network, an acquirer bank, a 26 processor, or other designated entity that has received the tax 27 amount data and violates this section is subject to a civil 28 penalty of $1,000 per electronic payment transaction, and the 29 issuer must refund the merchant the interchange fee calculated 30 on the tax amount relative to the electronic payment 31 transaction. 32 (7) An entity, other than the merchant, involved in 33 facilitating or processing an electronic payment transaction, 34 including, but not limited to, an issuer, a payment card 35 network, an acquirer bank, a processor, or other designated 36 entity, may not distribute, exchange, transfer, disseminate, or 37 use the electronic payment transaction data except to facilitate 38 or process the electronic payment transaction or as required by 39 law. A violation of this subsection constitutes a violation of 40 the Florida Deceptive and Unfair Trade Practices Act under part 41 II of this chapter. Notwithstanding s. 501.211, a violation of 42 this subsection must be enforced only by the enforcing authority 43 as defined in s. 501.203(2) and subjects the violator to the 44 sanctions and penalties provided for in part II of this chapter. 45 If such action is successful, the enforcing authority is 46 entitled to reasonable attorney fees and costs. 47 Section 2. The Office of Economic and Demographic Research 48 (EDR) shall submit a report to the President of the Senate and 49 the Speaker of the House of Representatives by January 9, 2024, 50 containing findings of any policy options related to the 51 implementation of prohibiting interchange fees on taxes. The 52 report must address the impacts of the legislation, including, 53 but not limited to, technological, financial, and economic 54 impacts on merchants, processors, payment card networks, 55 acquiring banks, and issuers. EDR may contract with a public or 56 private institution of higher learning or a nationally 57 recognized organization or entity with experience in performing 58 this type of evaluation for the sole purpose of developing some 59 or all of the underlying analysis and findings to be included in 60 the report. 61 Section 3. Except as otherwise expressly provided in this 62 act, this act shall take effect upon becoming a law. 63 64 ====== D I R E C T O R Y C L A U S E A M E N D M E N T ====== 65 And the directory clause is amended as follows: 66 Delete line 17 67 and insert: 68 Section 1. Effective October 1, 2024, section 501.0119, 69 Florida Statutes, is created 70 71 ================= T I T L E A M E N D M E N T ================ 72 And the title is amended as follows: 73 Delete line 13 74 and insert: 75 prohibiting specified actions relating to electronic 76 payment transaction data by certain entities; 77 specifying penalties and the enforcing authority for 78 such violations; authorizing the enforcing authority 79 to recover reasonable attorney fees and costs; 80 providing construction; requiring the Office of 81 Economic and Demographic Research (EDR) to submit a 82 certain report to the Legislature by a specified date; 83 authorizing EDR to contract with certain entities for 84 a specified purpose; providing effective dates.