Sen. Emil Jones, III
Filed: 4/16/2018
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1 | AMENDMENT TO SENATE BILL 2657
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2 | AMENDMENT NO. ______. Amend Senate Bill 2657 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Consumer Fraud and Deceptive Business | ||||||
5 | Practices Act is amended by adding Section 2VVV as follows: | ||||||
6 | (815 ILCS 505/2VVV new) | ||||||
7 | Sec. 2VVV. Credit card and debit card transaction fees | ||||||
8 | prohibited. | ||||||
9 | (a) As used in this Section: | ||||||
10 | "Financial institution" means a bank, savings bank, | ||||||
11 | savings and loan association, credit union, or any corporate | ||||||
12 | fiduciaries, subsidiaries, affiliates, parent company of a | ||||||
13 | bank, savings bank, savings and loan association, or credit | ||||||
14 | union. | ||||||
15 | "Merchant" means a person who deals in goods of the kind or | ||||||
16 | otherwise by his or her occupation holds himself or herself out |
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1 | as having knowledge or skill peculiar to the practices or goods | ||||||
2 | involved in the transaction or to whom such knowledge or skill | ||||||
3 | may be attributed by his or her employment of an agent or | ||||||
4 | broker or other intermediary who by his or her occupation holds | ||||||
5 | himself or herself out as having such knowledge or skill. | ||||||
6 | "Public utility" has the meaning provided in Section 3-105 | ||||||
7 | of the Public Utilities Act. | ||||||
8 | "Service provider" means an individual, partnership, | ||||||
9 | corporation, association, organization, or any other legal or | ||||||
10 | commercial entity that directly processes or transmits debit | ||||||
11 | card or credit card account information for payment for goods | ||||||
12 | or services for or on behalf of a merchant as part of a payment | ||||||
13 | processing service. | ||||||
14 | "Transaction fee" means any per transaction fee, item fee, | ||||||
15 | item rate fee, per item rate fee, communication fee, address | ||||||
16 | verification fee, or authorization fee imposed on the merchant | ||||||
17 | or consumer by the service provider for accepting or processing | ||||||
18 | a credit or debit card. | ||||||
19 | (b) No service provider accepting and processing credit or | ||||||
20 | debit card payments for or on behalf of a merchant may impose a | ||||||
21 | transaction fee upon the merchant or the consumer. It is an | ||||||
22 | unlawful practice within the meaning of this Act for a service | ||||||
23 | provider to impose a transaction fee upon the merchant or | ||||||
24 | consumer in connection with the processing of credit or debit | ||||||
25 | card payments. | ||||||
26 | (c) This Section does not apply to State or local |
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1 | government offices or agencies, financial institutions, or | ||||||
2 | public utilities. ".
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