The Texas House Calendars Committee declined to schedule the interchange bill, HB 3395, for House floor debate before the May 11 deadline. Introduced by Rep. Giovanni Capriglione (R-Southlake), HB 3395 sought to require that sales tax be excluded from the total amount on which an interchange fee is charged for a credit/debit card transaction. This is an 8+% transfer of income from card servicer to merchant.
The Cornerstone League’s Action Alert activated more than 900 Texans to voice their opposition to the bill. This advocacy win is important not just for Texas, but for our other states as well because frequently what happens in one state’s legislature will migrate to another state’s.
Your Cornerstone advocacy team will continue to monitor ongoing developments to ensure that language from HB 3395 does not make it into an amendment on a germane bill over the next few weeks, and we will share updates as they develop.
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