File #: Int 0348-2022    Version: * Name: Classifying credit card processing fees and bank fees as exempt expenditures.
Type: Introduction Status: Committee
Committee: Committee on Governmental Operations
On agenda: 5/5/2022
Enactment date: Law number:
Title: A Local Law to amend the administrative code of the city of New York, in relation to classifying credit card processing fees and bank fees as exempt expenditures
Sponsors: Keith Powers , Kalman Yeger , Rita C. Joseph, Shaun Abreu
Council Member Sponsors: 4
Summary: This bill would provide that credit card processing fees paid by a campaign for contributions received by the campaign and any bank fees paid by the campaign would not count against the expenditure limitation for that campaign.
Attachments: 1. Summary of Int. No. 348, 2. Int. No. 348, 3. May 5, 2022 - Stated Meeting Agenda

Int. No. 348

 

By Council Members Powers, Yeger, Joseph and Abreu

 

A Local Law to amend the administrative code of the city of New York, in relation to classifying credit card processing fees and bank fees as exempt expenditures

 

Be it enacted by the Council as follows:

 

Section 1. Section 3-706 of the administrative code of the city of New York is amended by adding a new subdivision 6 to read as follows:

6. Expenditures for credit card processing fees for contributions received by the candidate and his or her principal committee and for any bank fees shall not be limited by the expenditure limitation of paragraph a of subdivision 1 of this section.

§ 2. This local law takes effect 120 days after it becomes law, except that section one of this local law shall apply to any expenditure made prior to the effective date in furtherance of a covered election that occurs after such effective date.

 

 

Session 12

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Int. 1456-2019