Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB351 Compare Versions

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Version 2 (New)

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3		-	ENGR. S. B. NO. 351 Page 1 1
	3	+	SENATE FLOOR VERSION - SB351 SFLR Page 1
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28		-	ENGROSSED SENATE
29		-	BILL NO. 351 By: Frix of the Senate
	29	+	SENATE FLOOR VERSION
	30	+	February 20, 2025
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	32	+
	33	+	COMMITTEE SUBSTITUTE
	34	+	FOR
	35	+	SENATE BILL NO. 351 By: Frix of the Senate
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31	37		and
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33	39		Hays of the House
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38	43		An Act relating to credit sales; amending 14A O.S.
39	44		2021, Sections 2-211 and 2-417, which relate to
40	45		discounts and surcharges for certain transactions;
41	46		requiring certain actions from sellers when imposing
42	47		a surcharge on certain transactions; modifying
43	48		definitions; updating statutory language; and
44	49		providing an effective date.
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48	53		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
49	54		SECTION 1. AMENDATORY 14A O.S. 2021, Section 2 -211, is
50	55		amended to read as follows:
51	56		Section 2-211. A. With respect to all sales transactions, a
52	57		discount which a seller offers, allows , or otherwise makes available
53	58		for the purpose of inducing payment by cash, check , or similar means
54	59		rather than by use of an open -end credit card account or debit card
55	60		account shall not constitute a credit service charge as determined
56	61		under Section 2-109 of this title if the discount is offe red to all
57	62		prospective buyers clearly and conspicuously in accordance with
58	63		regulations of the Administrator of Consumer Affairs Credit. No
59	64		There shall not be a limit on the discount that may be offered by
60		-	the seller. Pursuant to the regulations of the Administrator, a
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62		-	ENGR. S. B. NO. 351 Page 2 1
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	92	+	the seller. Pursuant to the regulations of the Administrator, a
87	93		seller who provides a discount not in accordance with regulations
88	94		shall disclose such information to the Administrator.
89	95		B. A seller in any sales transaction may pass on the processing
90	96		fee or impose a surcharge on a cardholder who elects to pay using an
91	97		open-end credit card or debit card account instead of paying by
92	98		cash, check, or similar means. There is no limit on the discount
93	99		which may be offered by the seller. A seller who provides a
94	100		discount otherwise than in accordance with the regul ations of the
95	101		Administrator must make the disclosures required by those
96	102		regulations If a seller elects to pass on the credit card or debit
97	103		card processing fee, or impose a surcharge for the use of an open -
98	104		end credit card or debit card account, the charged amount shall:
99	105		1. Be listed as separate line items in the cardholder ’s
100	106		receipt; and
101	107		2. Not exceed the total of the bank processing fees, financial
102	108		transaction fees, the cost of providing for secure transaction,
103	109		portal fees, and fees necessary to compensat e for increased
104	110		bandwidth incurred as a result of providing the transaction .
105	111		B. C. A seller who is registered with the United States
106	112		Treasury Department of the Treasury as a money transmitter pursuant
107	113		to 31 CFR C.F.R., Section 103.41, and who provides an electronic
108	114		funds transmission service, including service by telephone and the
109	115		Internet, may charge a different price for a funds transmission
110		-	service based on the mode of transmission used in the transaction
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112		-	ENGR. S. B. NO. 351 Page 3 1
	117	+	SENATE FLOOR VERSION - SB351 SFLR Page 3
	118	+	(Bold face denotes Committee Amendments) 1
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	143	+	service based on the mode of transmission used in the transaction
137	144		without violating this section so long as the pr ice charged for a
138	145		service paid for with an open -end credit card or debit card account
139	146		is not greater than the price charged for such service if paid for
140	147		with currency or other similar means accepted within the same mode
141	148		of transmission.
142	149		C. D. Any seller subject to the provisions of subsection B C of
143	150		this section shall either conduct business at a location in this
144	151		state or comply with the provisions of Section 1022 of Title 18 of
145	152		the Oklahoma Statutes.
146	153		D. E. As used in this section , “debit:
147	154		1. “Debit card” means any instrument or device, whether known
148	155		as a debit card or by any other name, issued with or without fee by
149	156		an issuer for the use of the cardholder in depositing, obtaining , or
150	157		transferring funds from a consumer banking electronic facility ; and
151	158		2. “Surcharge” means any means of increasing the regular or
152	159		advertised price to a cardholder, which is not imposed upon
153	160		customers paying by cash, check, or similar means .
154	161		E. For purposes of this section, a private educational
155	162		institution as defined in parag raph (e) of Section 3102 of Title 70
156	163		of the Oklahoma Statutes, a private school defined as a nonpublic
157	164		entity conducting an educational program for at least one grade
158	165		between prekindergarten through twelve, a municipality as defined in
159	166		paragraph 5 of Secti on 1-102 of Title 11 of the Oklahoma Statutes or
160		-	a public trust with a municipality as its beneficiary may charge a
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162		-	ENGR. S. B. NO. 351 Page 4 1
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	194	+	a public trust with a municipality as its beneficiary may charge a
187	195		service fee. The service fee shall be limited to bank processing
188	196		fees and financial transaction fees, the cost of providing for
189	197		secure transaction, portal fees, and fees necessary to compensate
190	198		for increased bandwidth incurred as a result of providing for an
191	199		online transaction.
192	200		SECTION 2. AMENDATORY 14A O.S. 2021, Sectio n 2-417, is
193	201		amended to read as follows:
194	202		Section 2-417. A. No seller in any sales transaction may
195	203		impose a surcharge on a cardholder who elects to use a credit card
196	204		or debit card in lieu of payment by cash, check or similar means A
197	205		seller in any sales transaction may pass on the processing fee or
198	206		impose a surcharge on a cardholder who elects to pay using an open -
199	207		end credit card or debit card account instead of paying by cash,
200	208		check, or similar means. If a seller elects to pass on the credit
201	209		card or debit card processing fee, or impose a surcharge for the use
202	210		of an open-end credit card or debit card account, the charged amount
203	211		shall:
204	212		1. Be listed as a separate line item on the cardholder’s
205	213		receipt; and
206	214		2. Not exceed the total of the bank processing fees, financial
207	215		transaction fees, the cost of providi ng for secure transaction,
208	216		portal fees, and fees necessary to compensate for increased
209	217		bandwidth incurred as a result of providing the transaction .
210		-	B. As used in this section , “debit:
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212		-	ENGR. S. B. NO. 351 Page 5 1
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	245	+	B. As used in this section , “debit:
237	246		1. “Debit card” means any instrument or device, whether known
238	247		as a debit card or by any other name, issued with or without fee by
239	248		an issuer for the use of the cardholder in depositing, obtaining , or
240	249		transferring funds from a consumer banking electronic facility ; and
241	250		2. “Surcharge” means any means of increasing the regular o r
242	251		advertised price to a cardholder, which is not imposed upon
243	252		customers paying by cash, check, or similar means .
244	253		C. For purposes of this section, a private educational
245	254		institution as defined in paragraph (e) of Section 3102 of Title 70
246	255		of the Oklahoma Statutes, a private school defined as a nonpublic
247	256		entity conducting an educational program for at least one grade
248	257		between prekindergarten through twelve, a municipality as defined in
249	258		paragraph 5 of Section 1 -102 of Title 11 of the Oklahoma Statutes or
250	259		a public trust with a municipality as its beneficiary may charge a
251	260		service fee. The service fee may be applied to online or in -person
252	261		transactions and shall be used to offset bank processing fees,
253	262		financial transaction fees, the cost of providing for secure
254	263		transaction, portal fees, and fees necessary to compensate for
255	264		increased bandwidth incurred as a result of providing the
256	265		transaction.
257	266		SECTION 3. This act shall become effective November 1, 2025.
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284		-	Passed the Senate the 13th day of March, 2025.
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287		-
288		-	Presiding Officer of the Senate
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291		-	Passed the House of Representatives the ____ day of __________,
292		-	2025.
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296		-	Presiding Officer of the House
297		-	of Representatives
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	267	+	COMMITTEE REPORT BY: COMMITTEE ON BUSINESS AND I NSURANCE
	268	+	February 20, 2025 - DO PASS AS AMENDED BY CS