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