Colorado 2025 Regular Session

Colorado House Bill HB1282 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		First Regular Session
2	2		Seventy-fifth General Assembly
3	3		STATE OF COLORADO
4		-	~~REENGROSSED~~
5		-	This Version Includes All Amendments
6		-	~~Adopted~~ in the House of Introduction
	4	+	ENGROSSED
	5	+	This Version Includes All Amendments Adopted
	6	+	on Second Reading in the House of Introduction
7	7		LLS NO. 25-0801.01 Caroline Martin x5902
8	8		HOUSE BILL 25-1282
9	9		House Committees Senate Committees
10	10		Finance
11	11		A BILL FOR AN ACT
12	12		C
13	13		ONCERNING PROHIBITIONS ON CERTAIN PAYMENT CARD NETWORK101
14	14		PRACTICES INVOLVING ELECTRONIC PAYMENT TRANSACTIONS .102
15	15		Bill Summary
16	16		(Note: This summary applies to this bill as introduced and does
17	17		not reflect any amendments that may be subsequently adopted. If this bill
18	18		passes third reading in the house of introduction, a bill summary that
19	19		applies to the reengrossed version of this bill will be available at
20	20		http://leg.colorado.gov
21	21		.)
22	22		The bill enacts the "Swipe Fee Fairness and Consumer Safeguards
23	23		Act" (act), which prohibits a payment card network from:
24	24		! Fixing or conspiring to fix an interchange fee with, or on
25	25		behalf of, a covered credit card issuer or another payment
26	26		card network;
27	27		! Establishing, putting forward, or implementing a fee
28	28		HOUSE
29		-	3rd Reading Unamended
30		-	March 19, 2025
31		-	HOUSE
32	29		2nd Reading Unamended
33	30		March 18, 2025
34	31		HOUSE SPONSORSHIP
35		-	Brooks and Lindstedt, Bird, Brown, Garcia, Hamrick, Lindsay, McCormick, Paschal,
36		-	Ricks, Rydin, Story
	32	+	Brooks and Lindstedt,
37	33		SENATE SPONSORSHIP
38	34		Daugherty and Kirkmeyer,
39	35		Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
40	36		Capital letters or bold & italic numbers indicate new material to be added to existing law.
41	37		Dashes through the words or numbers indicate deletions from existing law. schedule that the payment card network knows, or
42	38		reasonably should know, has been used by a covered credit
43	39		card issuer other than the payment card network to
44	40		determine the amount of an interchange fee charged or
45	41		received by the covered credit card issuer in the current or
46	42		previous calendar year;
47	43		! Establishing, charging, or putting forward on a fee
48	44		schedule an interchange fee if the fee includes a percentage
49	45		multiplied by the amount of a transaction and the fee does
50	46		not exclude any amount attributable to a tax or gratuity on
51	47		the transaction, or increasing fees in an attempt to or in a
52	48		manner that would circumvent such interchange fee
53	49		prohibition;
54	50		! Requiring a merchant that accepts credit cards that are
55	51		enabled for processing over the payment card network to
56	52		accept all credit cards issued by a covered credit card issuer
57	53		that are enabled for processing over the payment card
58	54		network;
59	55		! Distributing, publishing, or otherwise using data from an
60	56		electronic payment transaction, except in certain
61	57		circumstances;
62	58		! Charging a fee to a consumer or merchant related to a
63	59		disputed credit card transaction until the dispute has been
64	60		resolved and the consumer or merchant has been provided
65	61		written notice of the determination; or
66	62		! Imposing a penalty on a merchant for setting prices in a
67	63		manner that complies with state and federal law.
68	64		The bill prohibits a payment card network from establishing,
69	65		putting forward, or implementing a fee schedule that the payment card
70	66		network knows or reasonably should know has been used by one or more
71	67		issuers other than the payment card network to determine the amount of
72	68		an interchange fee received or charged in respect to a charitable
73	69		contribution, unless the interchange fee does not exceed:
74	70		! 0.2% of the amount of a charitable contribution made by
75	71		means of a debit card; or
76	72		! 0.3% of the amount of a charitable contribution made by
77	73		means of a credit card.
78	74		If a payment card network violates the act, a merchant, consumer,
79	75		or other individual or entity that is injured as a result may bring a civil
80	76		action. A payment card network that is found to have violated the act as
81	77		a result of a civil action other than a certified class action is liable in an
82	78		amount equal to the sum of:
83	79		! The greater of:
84	80		! The amount of actual damages sustained plus
85	81		interest; or
86	82		1282
87	83		-2- ! $500; or
88	84		! 3 times the amount of actual damages sustained if
89	85		the payment card network engaged in bad faith
90	86		conduct; plus
91	87		! The costs of the action plus reasonable attorney fees.
92	88		If a payment card network is found liable in a certified class
93	89		action, a successful plaintiff may recover actual damages, injunctive relief
94	90		allowed by law, and reasonable attorney fees and costs.
95	91		Be it enacted by the General Assembly of the State of Colorado:1
96	92		SECTION 1. In Colorado Revised Statutes, add 5-2-215 as2
97	93		follows:3
98	94		5-2-215. Prohibition on certain payment card network4
99	95		practices - short title - legislative declaration - definitions. (1) Short5
100	96		title. T
101	97		HE SHORT TITLE OF THIS SECTION IS THE "SWIPE FEE FAIRNESS AND6
102	98		C
103	99		ONSUMER SAFEGUARDS ACT".7
104	100		(2) Legislative declaration. T
105	101		HE GENERAL ASSEMBLY FINDS AND8
106	102		DECLARES THAT:9
107	103		(a) C
108	104		OLORADO MERCHANTS AND CONSUMERS PAID AN AMOUNT10
109	105		ESTIMATED TO BE OVER TWO BILLION DOLLARS IN CREDIT CARD11
110	106		INTERCHANGE FEES IN 2023 AND PAID AN AMOUNT ESTIMATED TO BE OVER12
111	107		TWO HUNDRED MILLION DOLLARS IN INTERC HANGE FEES COLLECTED ON13
112	108		SALES TAX IN 2023;14
113	109		(b) I
114	110		NTERCHANGE FEES ACT AS AN INFLATION MULTIPLIER BY15
115	111		ADDING TWO TO FOUR PERCENT IN ADDITIONAL COSTS TO EVERY CREDIT16
116	112		CARD TRANSACTION A MERCHANT RUNS . HIGH INTERCHANGE FEES COST17
117	113		THE AVERAGE FAMILY OVER ONE THOUS AND ONE HUNDRED DOLLARS IN18
118	114		THE COST OF GOODS AND SERVICES LAST YEAR .19
119	115		(c) I
120	116		N RECENT YEARS, COLORADO RESTAURANTS HAVE BEEN20
121	117		NEGATIVELY IMPACTED BY FACTORS INCLUDING THE COVID-1921
122	118		1282-3- PANDEMIC AND RISING COSTS FOR LABOR , FOOD, AND RENT. MORE THAN1
123	119		FOUR HUNDRED TWENTY -FIVE COLORADO RESTAURANTS CLOSED OVER2
124	120		THE LAST THREE YEARS , RESULTING IN AN ESTIMATED TWENTY -ONE3
125	121		THOUSAND TWO HUNDRED FIFTY WORKERS WHO LOST THEIR JOBS .4
126	122		(d) T
127	123		HE RESTAURANT INDUSTRY IS MADE UP OF HUNDREDS OF5
128	124		THOUSANDS OF SMALL BUSINESSES THAT RUN ON DIFFERENT BUSINESS6
129	125		MODELS. SEVEN IN TEN RESTAURANTS ARE SINGLE UNIT OPERATIONS , AND7
130	126		NINETY PERCENT OF RESTAURANT LOCATIONS EMPLOY LESS THAN TEN8
131	127		PEOPLE. THE INDUSTRY IS HIGHLY COMPETITIVE AND CONSTANTLY9
132	128		CHANGING IN RESPONSE TO TRENDS AND ECONOMIC PRESSURES . THE10
133	129		AVERAGE SMALL BUSINESS RESTAURANT RUNS ON A THREE - TO11
134	130		FIVE-PERCENT PRE-TAX MARGIN AND MAKES ABOUT ONE MILLION12
135	131		DOLLARS IN ANNUAL SALES.13
136	132		(e) F
137	133		OR RESTAURANT OPERATORS , ACCEPTING DEBIT AND CREDIT14
138	134		CARDS IS IMPERATIVE TO BEST SERVING CUSTOMERS AND STAYING IN15
139	135		BUSINESS. HOWEVER, ACCEPTING DEBIT AND CREDIT CARD PAYMENTS IS16
140	136		ONE OF THE HIGHEST COSTS BORNE BY RESTAURANT OPERATORS , OFTEN17
141	137		BEHIND ONLY LABOR AND FOOD . TWO PAYMENT CARD NETWORKS18
142	138		CONTROL OVER EIGHTY PERCENT OF THE CREDIT CARD MARKETPLACE IN19
143	139		THE UNITED STATES, FORCING MERCHANTS TO PAY THE HIGHEST20
144	140		INTERCHANGE FEES IN THE INDUSTRIALIZED WORLD . RESTAURANT21
145	141		OPERATORS DO NOT HAVE THE BARGAINING POWER TO NEGOTIATE THE22
146	142		CREDIT CARD RATES IMPOSED BY THE TWO DOMINANT PAYMENT CARD23
147	143		NETWORKS, NOR ARE RESTAURANT OPERATORS PRACTICALLY ABLE TO24
148	144		FIND ALTERNATIVE PAYMENT PROCESSING OPTIONS .25
149	145		(f) T
150	146		HIS SECTION BENEFITS COLORADO MERCHANTS AND26
151	147		CONSUMERS BY KEEPING OVER TWO HUNDRED MILLION DOLLARS WITHIN27
152	148		1282
153	149		-4- THE STATE AND STRENGTHENING LOCAL ECONOMIC ACTIVITY . THE ACT1
154	150		WILL HELP RESTAURANTS IN COLORADO SAVE MONEY ON INTERCHANGE2
155	151		FEES PAID ON SALES TAX AND TIPS, WHICH WILL ALLOW RESTAURANT3
156	152		OPERATORS TO HIRE MORE EMPLOYEES , INVEST IN THEIR BUSINESSES, KEEP4
157	153		PRICES COMPETITIVE, AND CONTRIBUTE TO THE COMMUNITIES THEY5
158	154		SERVE.6
159	155		(3) Definitions. A
160	156		S USED IN THIS SECTION, UNLESS THE CONTEXT7
161	157		OTHERWISE REQUIRES:8
162	158		(a) "A
163	159		CQUIRER BANK" MEANS A MEMBER OF A PAYMENT CARD9
164	160		NETWORK THAT CONTRACTS WITH A MERCHANT FOR THE SETTLEMENT OF10
165	161		ELECTRONIC PAYMENT TRANSACTIONS . AN ACQUIRER BANK MAY11
166	162		CONTRACT DIRECTLY WITH MERCHANTS OR INDIRECTLY THROUGH A12
167	163		PROCESSOR TO PROCESS ELECTRONIC PAYMENT TRANSACTIONS .13
168	164		(b) "A
169	165		UTHORIZATION" MEANS THE PROCESS THROUGH WHICH A14
170	166		MERCHANT REQUESTS APPROVAL FOR AN ELECTRONIC PAYMENT15
171	167		TRANSACTION FROM THE ISSUER .16
172	168		(c) "B
173	169		AD FAITH CONDUCT " MEANS FRAUDULENT , WILLFUL,17
174	170		KNOWING, OR INTENTIONAL CONDUCT THAT CAUSES INJURY .18
175	171		(d) "C
176	172		HARITABLE CONTRIBUTION " MEANS A CHARITABLE19
177	173		CONTRIBUTION AS DEFINED IN 26 U.S.C. SEC. 170 (c) THAT IS MADE VIA20
178	174		ELECTRONIC PAYMENT TRANSACTION .21
179	175		(e) "C
180	176		LEARANCE" MEANS THE PROCESS OF TRANSMITTING FINAL22
181	177		TRANSACTION DATA FROM A MERCHANT TO AN ISSUER FOR POSTING TO23
182	178		THE CARDHOLDER'S ACCOUNT AND THE CALCULATION OF FEES AND24
183	179		CHARGES, INCLUDING INTERCHANGE FEES, THAT APPLY TO THE ISSUER AND25
184	180		THE MERCHANT.26
185	181		(f) "C
186	182		OVERED CREDIT CARD ISSUER" MEANS A CREDIT CARD ISSUER27
187	183		1282
188	184		-5- THAT, DURING ANY POINT IN THE PREVIOUS CALE NDAR YEAR , HELD1
189	185		CONSOLIDATED WORLDWIDE BANKING AND NON -BANKING ASSETS,2
190	186		INCLUDING ASSETS OF AFFILIATES, OTHER THAN TRUST ASSETS UNDER3
191	187		MANAGEMENT, OF MORE THAN FIFTY BILLION DOLLARS.4
192	188		(g) "D
193	189		EBIT CARD" MEANS A CARD OR OTHER PAYMENT CODE OR5
194	190		DEVICE ISSUED OR APPROVED FOR USE THROUGH A PAYMENT CARD6
195	191		NETWORK TO DEBIT AN ASSET ACCOUNT AND INCLUDES A GENERAL USE7
196	192		PREPAID CARD, AS DEFINED IN 15 U.S.C. SEC. 16931-1 ET SEQ. "DEBIT8
197	193		CARD" DOES NOT INCLUDE PAPER CHECKS.9
198	194		(h) "E
199	195		LECTRONIC PAYMENT TRANSACTION " MEANS A10
200	196		TRANSACTION IN WHICH A PERSON USES A DEBIT CARD , A CREDIT CARD, OR11
201	197		OTHER PAYMENT CODE OR DEVICE ISSUED OR APPROVED THROUGH A12
202	198		PAYMENT CARD NETWORK TO DEBIT A DEPOSIT ACCOUNT OR USE A LINE OF13
203	199		CREDIT.14
204	200		(i) "F
205	201		EE SCHEDULE" MEANS ANY SCHEDULE, LIST, TABLE, CHART,15
206	202		AGREEMENT, COMMUNICATION , OR OTHER DOCUMENT , WHETHER16
207	203		PUBLICLY AVAILABLE OR NOT, THAT SETS FORTH AN AMOUNT OR FORMULA17
208	204		FOR DETERMINING ONE OR MORE FEES .18
209	205		(j) "G
210	206		RATUITY" MEANS MONEY VOLUNTARILY GIVEN TO AN19
211	207		EMPLOYEE FROM A GUEST, PATRON, OR CUSTOMER IN CONNECTION WITH20
212	208		SERVICES RENDERED.21
213	209		(k) "I
214	210		NTERCHANGE FEE" MEANS A FEE ESTABLISHED, CHARGED, OR22
215	211		RECEIVED BY A PAYMENT CARD NETWORK FOR THE PURPOSE OF23
216	212		COMPENSATING THE ISSUER FOR ITS INVOLVEMENT IN AN ELECTRONIC24
217	213		PAYMENT TRANSACTION .25
218	214		(l) "I
219	215		SSUER" MEANS A PERSON ISSUING A DEBIT CARD OR CREDIT26
220	216		CARD OR THE PERSON'S AGENT.27
221	217		1282
222	218		-6- (m) "MERCHANT" MEANS A PERSON THAT ACCEPTS ELECTRONIC1
223	219		PAYMENT TRANSACTIONS AND COLLECTS AND REMITS A TAX .2
224	220		(n) "P
225	221		AYMENT CARD NETWORK " MEANS AN ENTITY THAT:3
226	222		(I) D
227	223		IRECTLY OR THROUGH LICENSED MEMBERS , PROCESSORS, OR4
228	224		AGENTS PROVIDES THE PROPRIETARY SERVICES , INFRASTRUCTURE, AND5
229	225		SOFTWARE TO ROUTE INFORMATION AND DATA FOR THE PURPOSE OF6
230	226		CONDUCTING ELECTRONIC PAYMENT TRANSACTION AUTHORIZATION ,7
231	227		CLEARANCE, AND SETTLEMENT; AND8
232	228		(II) A
233	229		MERCHANT USES TO ACCEPT AS A FORM OF PAYMENT A9
234	230		BRAND OF DEBIT CARD, CREDIT CARD, OR OTHER DEVICE THAT MAY BE10
235	231		USED TO CARRY OUT ELECTRONIC PAYMENT TRANSACTIONS .11
236	232		(o) "P
237	233		ROCESSOR" MEANS AN ENTITY THAT FACILITATES, SERVICES,12
238	234		PROCESSES, OR MANAGES THE DEBIT OR CREDIT AUTHORIZATION , BILLING,13
239	235		TRANSFER, PAYMENT PROCEDURES , OR SETTLEMENT WITH RESPECT TO14
240	236		ANY ELECTRONIC PAYMENT TRANSACTION .15
241	237		(p) "S
242	238		ETTLEMENT" MEANS THE PROCESS OF TRANSMITTING SALES16
243	239		INFORMATION TO THE ISSUING BANK FOR COLLECTION AND17
244	240		REIMBURSEMENT OF FUNDS TO THE MERCHANT AND CALCULATING AND18
245	241		REPORTING THE NET TRANSACTION AMOUNT TO THE ISSUER AND19
246	242		MERCHANT FOR AN ELECTRONIC PAYMENT TRANSACTION THAT IS20
247	243		CLEARED.21
248	244		(q) "T
249	245		AX" MEANS ANY SALES, USE, OCCUPATION, OR EXCISE TAX22
250	246		IMPOSED BY THE STATE OR A UNIT OF LOCAL GOVERNMENT IN THE STATE .23
251	247		(4) Prohibition on certain payment card network practices. A24
252	248		PAYMENT CARD NETWORK , WHETHER DIRECTLY OR THROUGH AN AGENT ,25
253	249		ACQUIRER BANK, PROCESSOR, CONTRACT, REQUIREMENT, CONDITION,26
254	250		PENALTY, TECHNOLOGICAL SPECIFICATION, OR INDUCEMENT, SHALL NOT:27
255	251		1282
256	252		-7- (a) FIX OR CONSPIRE TO FIX AN INTERCHANGE FEE WITH , OR ON1
257	253		BEHALF OF, A COVERED CREDIT CARD ISSUER OR ANOTHER PAYMENT CARD2
258	254		NETWORK;3
259	255		(b) E
260	256		STABLISH, PUT FORWARD, OR IMPLEMENT A FEE SCHEDULE4
261	257		THAT THE PAYMENT CARD NETWORK KNOWS , OR REASONABLY SHOULD5
262	258		KNOW, HAS BEEN USED BY A COVERED CREDIT CARD ISSUER OTHER THAN6
263	259		THE PAYMENT CARD NETWORK TO DETERMINE THE AMOUNT OF AN7
264	260		INTERCHANGE FEE CHARGED OR RECEIVED BY THE COVERED CREDIT CARD8
265	261		ISSUER IN THE CURRENT OR PREVIOUS CALENDAR YEAR ;9
266	262		(c) E
267	263		STABLISH, CHARGE, OR PUT FORWARD ON A FEE SCHEDULE AN10
268	264		INTERCHANGE FEE IF:11
269	265		(I) T
270	266		HE FEE IS OR INCLUDES A PERCENTAGE MULTIPLIED BY THE12
271	267		GROSS DOLLAR AMOUNT OF A TRANSACTION CONDUCTED WITH A DEBIT13
272	268		CARD OR CREDIT CARD; AND14
273	269		(II)
274	270		THE FEE DOES NOT EXCLUDE FROM THE GROSS DOLLAR15
275	271		AMOUNT OF THE TRANSACTION ANY AMOUNT ATTRIBUTABLE TO A TAX OR16
276	272		GRATUITY ON THE TRANSACTION ;17
277	273		(d) I
278	274		NCREASE THE RATE OR AMOUNT OF FEES THAT APPLY TO THE18
279	275		PORTION OF A TRANSACTION OTHER THAN THE PORTION DESCRIBED IN19
280	276		SUBSECTION (4)(c)(II) OF THIS SECTION IN AN ATTEMPT TO OR IN A20
281	277		MANNER THAT WOULD CIRCUMVENT THE PROHIBITION SET FORTH IN21
282	278		SUBSECTION (4)(c) OF THIS SECTION;22
283	279		(e) R
284	280		EQUIRE A MERCHANT THAT ACCEPTS CREDIT CARDS THAT ARE23
285	281		ENABLED FOR PROCESSING OVER THE PAYMENT CARD NETWORK TO24
286	282		ACCEPT ALL CREDIT CARDS ISSUED BY A COVERED CREDIT CARD ISSUER25
287	283		THAT ARE ENABLED FOR PROCESSING OVER THE PAYMENT CARD NETWORK ;26
288	284		(f) D
289	285		ISTRIBUTE, PUBLISH, OR OTHERWISE USE DATA FROM AN27
290	286		1282
291	287		-8- ELECTRONIC PAYMENT TRANSACTION , EXCEPT TO:1
292	288		(I) P
293	289		ROCESS THE ELECTRONIC PAYMENT TRANSACTION ;2
294	290		(II) M
295	291		ONITOR FOR, DETECT, OR PREVENT FRAUD;3
296	292		(III) S
297	293		UPPORT LOYALTY, REWARDS, OR PROMOTIONAL OFFERS;4
298	294		(IV) T
299	295		AILOR PRODUCTS AND SERVICES TO SERVE CUSTOMERS '5
300	296		NEEDS; AND6
301	297		(V) O
302	298		THERWISE COMPLY WITH STATE OR FEDERAL LAW ;7
303	299		(g) C
304	300		HARGE A FEE TO A CONSUMER OR MERCHANT RELATED TO A8
305	301		DISPUTED CREDIT CARD TRANSACTION UNTIL THE DISPUTE HAS BEEN9
306	302		RESOLVED BY A DETERMINATION THAT THE CONSUMER OR MERCHANT IS10
307	303		LIABLE FOR THE TRANSACTION AND THE CONSUMER OR MERCHANT HAS11
308	304		BEEN PROVIDED WRITTEN NOTICE OF THE DETERMINATION ; OR12
309	305		(h) I
310	306		MPOSE A PENALTY ON A MERCHANT FOR SETTING PRICES IN A13
311	307		MANNER THAT COMPLIES WITH STATE AND FEDERAL LAW .14
312	308		(5) Limits on network fee-setting for charitable contributions.15
313	309		A
314	310		PAYMENT CARD NETWORK , WHETHER DIRECTLY OR THROUGH AN16
315	311		AGENT, ACQUIRER BANK , PROCESSOR, CONTRACT, REQUIREMENT,17
316	312		CONDITION, PENALTY, TECHNOLOGICAL SPECIFICATION, OR INDUCEMENT,18
317	313		SHALL NOT ESTABLISH, PUT FORWARD, OR IMPLEMENT A FEE SCHEDULE19
318	314		THAT THE PAYMENT CARD NETWORK KNOWS OR REASONABLY SHOULD20
319	315		KNOW HAS BEEN USED BY ONE OR MORE ISSUERS OTHER THAN THE21
320	316		PAYMENT CARD NETWORK TO DETERMINE THE AMOUNT OF AN22
321	317		INTERCHANGE FEE RECEIVED OR CHARGED IN RESPECT TO A CHARITABLE23
322	318		CONTRIBUTION, UNLESS THE INTERCHANGE FEE DOES NOT EXCEED :24
323	319		(a) T
324	320		WO-TENTHS OF ONE PERCENT OF THE AMOUNT OF A25
325	321		CHARITABLE CONTRIBUTION MADE BY MEANS OF A DEBIT CARD ; OR26
326	322		(b) T
327	323		HREE-TENTHS OF ONE PERCENT OF THE AMOUNT OF A27
328	324		1282
329	325		-9- CHARITABLE CONTRIBUTION MADE BY MEANS OF A CREDIT CARD .1
330	326		(6) Penalties. (a) I
331	327		F A PAYMENT CARD NETWORK VIOLATES THIS2
332	328		SECTION, A MERCHANT, CONSUMER, OR OTHER INDIVIDUAL OR ENTITY3
333	329		THAT IS INJURED AS A RESULT OF THE VIOLATION MAY BRING A CIVIL4
334	330		ACTION AGAINST THE PAYMENT CARD NETWORK . EXCEPT IN A CERTIFIED5
335	331		CLASS ACTION, AND NOTWITHSTANDING ANY OTHER LAW , ANY PAYMENT6
336	332		CARD NETWORK THAT, IN A CIVIL ACTION, IS FOUND TO HAVE VIOLATED7
337	333		THIS SECTION IS LIABLE IN AN AMOUNT EQUAL TO THE SUM OF :8
338	334		(I) T
339	335		HE GREATER OF:9
340	336		(A) T
341	337		HE AMOUNT OF ACTUAL DAMAGES SUSTAINED , INCLUDING10
342	338		PREJUDGMENT INTEREST OF EITHER EIGHT PERCENT PER YEAR OR AT THE11
343	339		RATE PROVIDED IN SECTION 13-21-101, WHICHEVER IS GREATER, FROM12
344	340		THE DATE THE CLAIM ACCRUED ;13
345	341		(B) F
346	342		IVE HUNDRED DOLLARS; OR14
347	343		(C) T
348	344		HREE TIMES THE AMOUNT OF ACTUAL DAMAGES SUSTAINED ,15
349	345		IF IT IS ESTABLISHED BY CLEAR AND CONVINCING EVIDENCE THAT THE16
350	346		PAYMENT CARD NETWORK ENGAGED IN BAD FAITH CONDUCT ; PLUS17
351	347		(II) I
352	348		N THE CASE OF ANY SUCCESSFUL ACTION TO ENFORCE SAID18
353	349		LIABILITY, THE COSTS OF THE ACTION TOGETHER WITH REASONABLE19
354	350		ATTORNEY FEES AS DETERMINED BY THE COURT .20
355	351		(b) I
356	352		N A CASE CERTIFIED AS A CLASS ACTION , A SUCCESSFUL21
357	353		PLAINTIFF MAY RECOVER ACTUAL DAMAGES , INJUNCTIVE RELIEF ALLOWED22
358	354		BY LAW, AND REASONABLE ATTORNEY FEES AND COSTS .23
359	355		(c) A
360	356		NY PERSON WHO BRINGS AN ACTION UNDER THIS SECTION24
361	357		THAT IS FOUND BY THE COURT TO BE FRIVOLOUS , GROUNDLESS, AND IN25
362	358		BAD FAITH, OR FOR THE PURPOSE OF HARASSMENT , SHALL BE LIABLE TO26
363	359		THE DEFENDANT FOR THE COSTS OF THE ACTION TOGETHER WITH27
364	360		1282
365	361		-10- REASONABLE ATTORNEY FEES AS DETERMINED BY THE COURT .1
366	362		(7) Antitrust authority. N
367	363		OTHING IN THIS SECTION LIMITS OR2
368	364		OTHERWISE AFFECTS THE ATTORNEY GENERAL 'S ANTITRUST AUTHORITY3
369	365		PURSUANT TO ARTICLE 4 OF TITLE 6.4
370	366		(8) Severability. I
371	367		F ANY PROVISION OF THIS SECTION OR THE5
372	368		APPLICATION OF THIS SECTION TO ANY PERSON OR CIRCUMSTANCE IS HELD6
373	369		INVALID, THE INVALIDITY DOES NOT AFFECT OTHER PROVISIONS OR7
374	370		APPLICATIONS OF THIS SECTION OR THIS CODE THAT CAN BE GIVEN EFFECT8
375	371		WITHOUT THE INVALID PROVISION OR APPLICATION , AND TO THIS END THE9
376	372		PROVISIONS OF THIS SECTION ARE DECLARED TO BE SEVERABLE .10
377	373		SECTION 2. Act subject to petition - effective date. This act11
378	374		takes effect November 7, 2025; except that, if a referendum petition is12
379	375		filed pursuant to section 1 (3) of article V of the state constitution against13
380	376		this act or an item, section, or part of this act within the ninety-day period14
381	377		after final adjournment of the general assembly, then the act, item,15
382	378		section, or part will not take effect unless approved by the people at the16
383	379		general election to be held in November 2026 and, in such case, will take17
384	380		effect on the date of the official declaration of the vote thereon by the18
385	381		governor.19
386	382		1282
387	383		-11-