New York legislation · 2025-2026 General Assembly
New York S5587: Relates to excluding taxes from the amount on which credit card transaction fees are based
Status: In committee, June 5, 2026
Excludes the amount of state and local taxes and fees from the amount on which an interchange fee is charged for that electronic payment transaction by a credit or debit card network; prohibits a payment card network from altering or manipulating the computation and imposition of interchange fees.
What the bill says
An act to amend the general business law, in relation to the calculation of interchange fees charged by credit card networks.
From the amended text, April 24, 2026:
AN ACT to amend the general business law, in relation to the calculation of interchange fees charged by credit card networks THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. The general business law is amended by adding a new article 42-A to read as follows: ARTICLE 42-A INTERCHANGE FEES SECTION 1120. DEFINITIONS. 1121. CALCULATION OF INTERCHANGE FEES. 1122. REBATE OF FEES ON TAX AMOUNT. 1123. PENALTIES. § 1120. DEFINITIONS. FOR PURPOSES OF THIS ARTICLE: 1. "CREDIT CARD" MEANS A CARD, PLATE, COUPON BOOK, OR OTHER CREDIT DEVICE EXISTING FOR THE PURPOSE OF OBTAINING MONEY, PROPERTY, LABOR, OR SERVICES ON CREDIT. 2. "DEBIT CARD": (A) MEANS A CARD, OR OTHER PAYMENT CODE OR DEVICE, ISSUED OR APPROVED FOR USE THROUGH A PAYMENT CARD NETWORK TO DEBIT AN ASSET ACCOUNT, REGARDLESS OF THE PURPOSE FOR WHICH THE ACCOUNT IS ESTABLISHED, WHETHER AUTHORIZATION IS BASED ON SIGNATURE, PERSONAL IDENTIFICATION NUMBER, OR OTHER MEANS; AND (B) INCLUDES A GENERAL-USE PREPAID CARD, AS DEFINED IN 15 U.S.C. § 1693L-1; AND EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04674-04-6 S. 5587--A 2 (C) DOES NOT INCLUDE PAPER CHECKS. 3. "ELECTRONIC PAYMENT TRANSACTION" MEANS A TRANSACTION IN WHICH A CONSUMER USES A DEBIT CARD, CREDIT CARD, …
Sponsors
- James Skoufis (D, 42) · primary sponsor
- Joseph Addabbo (D, 15)
- Peter Harckham (D, 40)
- Michelle Hinchey (D, 41)
- Monica Martinez (D, 4)
- Shelley Mayer (D, 37)
- Dean Murray (R, 3)
- Peter Oberacker (R, 51)
- Ryan, Christopher (D, 50)
Latest actions
- : COMMITTED TO RULES
- : ADVANCED TO THIRD READING
- : 2ND REPORT CAL.
- : 1ST REPORT CAL.1296
- : PRINT NUMBER 5587A
- : AMEND AND RECOMMIT TO CONSUMER PROTECTION
- : REFERRED TO CONSUMER PROTECTION
- : REFERRED TO CONSUMER PROTECTION
Votes
- Senate Consumer Protection Committee: COMMITTEE Vote (May 20, 2026): 5 yea, 2 nay, passed
- Consumer Protection Committee Vote (May 20, 2026): 5 yea, 2 nay, passed
Subjects: General Business Law
Common questions
- What is S5587?
- S5587 is a bill in the New York Legislature (2025-2026 General Assembly): Relates to excluding taxes from the amount on which credit card transaction fees are based.
- What does S5587 do?
- In its own words: An act to amend the general business law, in relation to the calculation of interchange fees charged by credit card networks.
- What is the status of S5587?
- In committee as of June 5, 2026. Latest action: COMMITTED TO RULES (June 5, 2026).
- Who sponsored S5587?
- James Skoufis (D, 42), with 8 co-sponsors.
- Where is the official record for S5587?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/S5587
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.