Bill > S06125

This bill amends the New York General Business Law to prohibit payment card networks (organizations that facilitate credit and debit card transactions) from imposing penalties on small businesses or financial intermediaries that fail to comply with credit card surcharge notice requirements. Specifically, the bill defines a payment card network as an entity that provides the infrastructure and software for routing transaction information and processing credit or debit card payments. The legislation declares that any contract clause attempting to assess penalties against small businesses or financial intermediaries for non-compliance with surcharge notice rules will be automatically considered void. The bill references the definition of "small business" from the state's economic development law, ensuring a consistent understanding of what constitutes a small business. By preventing payment card networks from penalizing smaller businesses for potential compliance failures, the bill aims to reduce financial burdens on small businesses and provide them with additional protection against punitive actions by large payment processing networks. The act is set to take effect immediately upon passage.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S6125