#2023-16, July 28, 2023

MassBankers Submits Testimony Opposing Several Bills Related to Credit Card Transaction Fees

On Monday, July 24 the Joint Committee on Consumer Protection and Professional Licensure held a hearing to consider numerous pieces of legislation related to “Retail, Solicitation & Advertising, and Ticket Resale”, several of which would allow for merchants to include a surcharge on credit card transactions, which is currently prohibited under Massachusetts law.

The MassBankers Association provided written testimony to oppose three bills; two that would allow for merchants to include surcharges on credit card transactions and one that would amend current statute as it relates to merchants disclosing discounts on certain transaction. Legislation to establish a commission to study the impact and prevalence of these bills and others was filed and recently heard before the Joint Committee on Financial Services. The commission would include a representative from MassBankers Association should it be established. To read our testimony to the Committee, click here.

We will keep you posted on any developments.

MA Legislature Reaches Compromise on Fiscal Year 2024 Budget, Votes Expected Monday, 7/31

Legislative leaders in charge of negotiating the Fiscal Year 2024 (FY2024) budget announced Friday they reached an “agreement in principle” and expect both branches to vote on a final budget bill on Monday, July 31.

In the event a deal was not struck by August 1, the Legislature passed its second $6 billion interim budget yesterday that would have funded state government through August or until a FY2024 budget was completed. The Legislature passed the interim budget hours after it was filed by Governor Maura Healey.

We will keep you posted on any developments.

To read more about the budget talks, click here.