AN ACT CONCERNING INTERCHANGE FEES ON ELECTRONIC PAYMENT TRANSACTIONS.

HB 5990 prohibits payment card networks (like Visa or Mastercard) from including sales and use taxes in the transaction amount used to calculate interchange fees. This change directly affects merchants who pay these fees on credit/debit card transactions, as it would lower the base amount subject to fees. The bill modifies how interchange fees are calculated by excluding taxes from the fee calculation, rather than changing tax rates or merchant obligations. It does not alter sales tax collection or payment processing rules, only the method for determining card network fees.