summary
Introduced
02/25/2026
02/25/2026
In Committee
03/04/2026
03/04/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Repeal, reenact as a new section of KRS Chapter 365, and amend KRS 369.135 to define "credit card" and "debit card"; expand section, relating to the use of a digital asset as a method of payment, to apply to credit cards and debit cards.
AI Summary
This bill, by repealing and reenacting a section of Kentucky Revised Statutes (KRS) Chapter 369 into KRS Chapter 365, aims to clarify and expand regulations regarding payment methods. It specifically defines "credit card" as a tool for obtaining goods or services on credit, and "debit card" as a tool for obtaining goods or services where payment is made with previously deposited funds, excluding checks or similar negotiable instruments. The bill also incorporates the definitions of "digital asset" and "wallet" from another statute. Crucially, it amends existing law to explicitly permit individuals to accept digital assets, credit cards, or debit cards as payment for legal goods and services, and allows for the use of digital wallets, without imposing extra taxes or charges solely because these methods are used, unless similar charges are applied to payments made with U.S. currency. However, the bill does not compel any person to accept these alternative payment methods.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
to Banking & Insurance (H) (on 03/04/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.legislature.ky.gov/record/26RS/hb751.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb751/orig_bill.pdf |
Loading...