Bill would restrict payment codes that single out goods or services

Merchants could not disclose certain transaction codes, and payment card networks could not process transactions using those codes. The rules cover merchants that accept credit, debit, or prepaid cards, and networks that help process those payments. The restriction applies when a code identifies particular goods or services, or singles out their type from other goods or services the merchant offers. The act would take effect January 1, 2028, if enacted.

The attorney general would investigate complaints and other potential violations, give written notice of a violation, and could sue to stop it if it continues after 30 days. These rules cover alleged violations by merchants and payment card networks. Anyone could submit a complaint. The act would not allow private lawsuits against merchants or payment card networks. The act would take effect January 1, 2028, if enacted.

The attorney general would report complaints, investigations, and available information about the act's effects to state lawmakers. The report would go to the secretary of the senate and the clerk of the house of representatives. The report would include a summary and outcome of each investigation, along with any available data and analysis about the act's effects. The first report would be due April 1, 2029, and each later report would cover the immediately preceding calendar year.