Adds to existing law to establish provisions regarding electronic payment transaction interchange fees.

This legislation relates to interchange fees (also called swipe fees) charged to merchants on credit and debit card transactions. It excludes state and local sales taxes and gratuities from the calculation of the amount on which an interchange fee is charged for an electronic payment transaction, such as the use of a debit or credit card. It requires a payment card network to either deduct the amount of any tax and/or gratuity imposed from the calculation of interchange fees on purchases, or rebate an amount of interchange fees imposed on the state or local tax portion or gratuities portion of purchases.