# Indiana SB 412: Payment card network interchange fees.

Indiana SB 412, Payment card network interchange fees., is a First Regular Session 124th General Assembly (2025) Senate bill sponsored by Rodney Pol (Democratic); status failed, last action 2025-01-13 (First reading: referred to Committee on Insurance and Financial Institutions) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/IN-SB412-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Indiana SB 412
- State: Indiana
- Session: First Regular Session 124th General Assembly (2025)
- Title: Payment card network interchange fees.
- Status: failed
- Chamber: Senate
- Introduced: 2025-01-13
- Last action: 2025-01-13, First reading: referred to Committee on Insurance and Financial Institutions
- Sponsor: Rodney Pol (Democratic)
- Cosponsors: 0
- Subjects: insurance and financial institutions
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Defines an "interchange fee" as a fee established, charged, or received by a payment card network to compensate an issuer of a debit card or credit card for the issuer's involvement in an electronic payment transaction. Provides that the amount of: (1) certain taxes (covered taxes) collected by; and (2) any gratuity paid to; a merchant in an electronic payment transaction must be excluded from the amount upon which any interchange fee is charged in connection with the electronic payment transaction. Requires a payment card network to do one of the following: (1) At the time of settlement of an electronic payment transaction, deduct from the calculation of any interchange fees to be imposed for the transaction the amount of any: (A) covered tax collected; and (B) gratuity paid; in the electronic payment transaction. (2) Rebate a portion of the interchange fee imposed in the transaction in an amount equal to the amount of the interchange fee attributable to any: (A) covered tax collected; and (B) gratuity paid; in the electronic payment transaction. Provides that the required deduction or rebate must occur at the time of settlement when the merchant is able to capture and transmit tax and gratuity amounts relevant to the electronic payment transaction at the time of the transaction. Provides an exception allowing a payment card network to credit a merchant's settlement account for interchange fees collected on amounts that included covered taxes or gratuities, in cases in which a merchant is not able to capture and transmit tax or gratuity amounts relevant to the electronic payment transaction at the time of the transaction. Provides that a payment card network that violates these provisions: (1) is liable for a civil penalty in an amount not to exceed $1,000 per violation; and (2) shall refund to each merchant affected by the violation the amount of excess interchange fees collected. Provides that a payment card network that alters or manipulates the computation or imposition of an interchange fee for purposes of circumventing or offsetting the bill's requirements commits a deceptive act that is actionable only by the attorney general under the Indiana statute concerning deceptive consumer sales.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Rodney Pol (Democratic), Senate

## Actions (2)

- 2025-01-13: First reading: referred to Committee on Insurance and Financial Institutions (Senate)
- 2025-01-13: Authored by Senator Pol (Senate)

## Bill text

- Introduced Senate Bill (S): [PDF](https://api.iga.in.gov/2025/bills/SB0412/versions/SB0412.01.INTR?format=pdf)

## Related bills

- SB 324: Criminal procedures. (signed)
- SB 231: Various corrections matters. (signed)
- SB 80: Code publication. (signed)
- SB 453: Various tax matters. (signed)
- SB 464: Financial institutions and consumer credit. (signed)
- SB 371: Workforce matters. (signed)

## Sources
- [Introduced Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0412/versions/SB0412.01.INTR?format=pdf)

## Related
- [SB 324: Criminal procedures.](https://policyrisk.com/state-bill/IN-SB324-2025)
- [SB 231: Various corrections matters.](https://policyrisk.com/state-bill/IN-SB231-2025)
- [SB 80: Code publication.](https://policyrisk.com/state-bill/IN-SB80-2025)
- [SB 453: Various tax matters.](https://policyrisk.com/state-bill/IN-SB453-2025)
- [SB 464: Financial institutions and consumer credit.](https://policyrisk.com/state-bill/IN-SB464-2025)
- [SB 371: Workforce matters.](https://policyrisk.com/state-bill/IN-SB371-2025)
- [Indiana bills](https://policyrisk.com/states/indiana/bills)
- [Indiana state hub](https://policyrisk.com/states/indiana)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IN-SB412-2025 (as of 2026-10-17).