SB 500-2_ Filed 02/06/2007, 09:46 Kenley

SENATE MOTION


MADAM PRESIDENT:

    I move
that Senate Bill 500 be amended to read as follows:

SOURCE: Page 29, line 30; (07)MO050003.29. -->     Page 29, between lines 30 and 31, begin a new paragraph and insert:
SOURCE: IC 24-4.6-5; (07)MO050003.27. -->     "SECTION 27. IC 24-4.6-5 IS ADDED TO THE INDIANA CODE AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2007]:
     Chapter 5. Charges and Fees on the Tax Part of Credit Card Transactions
    Sec. 1. As used in this chapter, "credit card" means any instrument or device, whether described as a credit card, credit plate, or credit number or by any other name, that is issued by a person for the use of the cardholder in obtaining money, goods, services, or anything else of value on credit.
    Sec. 2. (a) A discount rate, a transaction charge, an interchange rate, or other charge or fee that:
        (1) is:
            (A) charged to a merchant or other person for the processing of credit card transactions; or
            (B) deducted from a credit card sale for the processing of credit card transactions; and
        (2) is based on a percentage multiplied by the gross dollar amount of the credit card transaction;
must be based on the dollar amount of the credit card transaction, excluding any taxes on the credit card transaction.

     (b) A discount rate, a transaction charge, an interchange rate, or other charge or fee described in subsection (a) may not be applied to the part of a credit card transaction that is attributable to taxes imposed on the credit card transaction.
    Sec. 3. (a) A person that violates this chapter commits a deceptive act that is actionable by the attorney general.
    (b) In an action under this chapter, the attorney general may obtain any or all of the following:
        (1) An injunction to enjoin future violations of this chapter.
        (2) A civil penalty of not more than the following:
            (A) Ten thousand dollars ($10,000) for the first violation of this chapter.
            (B) Twenty-five thousand ($25,000) dollars for each violation of this chapter after the first violation.
        (3) The attorney general's reasonable costs in:
            (A) the investigation of the deceptive act; and
            (B) maintaining the action.
        (4) Reasonable attorney's fees.
        (5) Costs of the action.
".
    Renumber all SECTIONS consecutively.
    (Reference is to SB 500 as printed January 30, 2007.)

________________________________________

Senator KENLEY


MO050003/DI 73
2007