Pipeline · Bill → Law
Step 1
Introduced
May 18, 2023
Step 2
Referred
May 18, 2023
Finance
Step 3
Committee
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill modifies the reporting requirements for payments made in settlement of payment card and third party network transactions. Under current law, settlement organizations are not required to report information for transactions that do not exceed $600. This bill increases the reporting threshold so that settlement organizations are exempt from reporting requirements if the applicable transactions do not exceed $10,000, or there are no more that 50 such transactions.
Timeline · 2 actions
May 18, 2023
Introduced in Senate
May 18, 2023
Read twice and referred to the Committee on Finance.