Adds to existing law to establish provisions regarding the exclusion of certain taxes and fees from any electronic payment transaction interchange fee.

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 from the calculation of the amount of an interchange fee 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 from the calculation of interchange fees on purchases, or rebate the amount of interchange fees imposed on the state or local tax portion of purchases.