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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to consumer protection
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6737
Title of bill
An act to amend the general business law, in relation to limitations on discounts for sales transactions made by cash
Purpose
To clarify the provisions of the general business law dealing with cred- it card purchases.
Summary of provisions
Amends Section 518 of the general business law to cap the differential between cash and credit card prices to 5%.
Justification
The law as written forbids charging consumers a surcharge for the use of their credit card. Because the statute is unclear, retailers have been charging higher prices for credit card use but maintaining that the cash price represents a discount. In some reported cases, consumers have been charged a dollar more per gallon for gasoline when they use their credit card. This bill will protect consumers from such huge price differences.
Legislative history
New bill.
Fiscal implications
None to the State.
Effective date
This act shall take effect on the thirtieth day after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.