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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
SENATE BILL 1095 By: Thompson
AS INTRODUCED
An Act relating to credit sales; defining terms;
prohibiting the charge of network fees and
interchange transaction fees on certain transactions
or portions of transactions; and providing an
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2-418 of Title 14A, unless there
is created a duplication in numbering, reads as follows:
A. As used in this section:
1. “Interchange transaction fee” means the same as the term is
defined in 15 U.S.C., Section 1693o-2; and
2. “Network fee” means the same as the term is defined in 15
U.S.C., Section 1693o-2.
B. No interchange transaction fee or network fee shall be
charged to a merchant for the following credit card transactions or
portion of transactions:
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1. The transaction or portion of the transaction that pays
sales tax, excise tax, and customer tips; and
2. The transaction or portion of the transaction that pays a
donation to any nonprofit organization exempt from taxation pursuant
to the provisions of 26 U.S.C., Section 501(c)(3).
SECTION 2. This act shall become effective November 1, 2025.
60-1-385 QD 1/16/2025 3:32:27 PM