Bill > SB1931

This bill amends the Consumer Fraud and Deceptive Business Practices Act to regulate credit card and charge card surcharges in Illinois. It begins by providing detailed definitions for key terms like "charge card" (a payment card that requires full balance payment each billing cycle), "credit card" (a payment card with revolving credit), "surcharge" (an additional fee for using a card), and "transaction" (the exchange of goods, services, or property). The core provision of the bill is that businesses cannot impose a credit or charge card surcharge unless they also accept cash payments for transactions under $1,000. However, the bill explicitly allows businesses to offer discounts for alternative payment methods like cash, checks, or debit cards, which incentivizes customers to use non-credit card payment options. This legislation aims to protect consumers from excessive fees while providing businesses with flexibility in their payment acceptance policies, ultimately promoting transparency in pricing and giving consumers more choice in how they pay for goods and services.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1931&GAID=18&DocTypeID=SB&SessionID=114&GA=104