File #: Int 0348-2022    Version: Name: Classifying credit card processing fees and bank fees as exempt expenditures.
Type: Introduction Status: Enacted
Committee: Committee on Governmental Operations
On agenda: 5/5/2022
Enactment date: 12/16/2023 Law number: 2023/168
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, Pierina Ana Sanchez, Sandra Ung, Justin L. Brannan, Carlina Rivera , Kevin C. Riley, Marjorie Velázquez, Selvena N. Brooks-Powers, James F. Gennaro
Council Member Sponsors: 12
Summary: This bill would provide that bank fees and credit card processing fees paid by a campaign for contributions received by the campaign would not count against the expenditure limitation for that campaign. Bank fees are the fees banks charge to demand deposit account holders for the regular use or maintenance of an account, including check fees, monthly fees, overdraft fees, and wire fees.
Attachments: 1. Summary of Int. No. 348-A, 2. Summary of Int. No. 348, 3. Int. No. 348, 4. May 5, 2022 - Stated Meeting Agenda, 5. Hearing Transcript - Stated Meeting 5-5-22, 6. Minutes of the Stated Meeting - May 5, 2022, 7. Committee Report 6/7/23, 8. Hearing Testimony 6/7/23, 9. Hearing Transcript 6/7/23, 10. Proposed Int. No. 348-A - 11/8/23, 11. Committee Report 11/15/23, 12. Hearing Transcript 11/15/23, 13. Committee Report - Stated Meeting, 14. November 15, 2023 - Stated Meeting Agenda, 15. Hearing Transcript - Stated Meeting 11-15-23, 16. Int. No. 348-A (FINAL), 17. Fiscal Impact Statement, 18. Legislative Documents - Letter to the Mayor, 19. Local Law 168
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
12/18/2023AKeith Powers City Council Returned Unsigned by Mayor  Action details Meeting details Not available
12/16/2023AKeith Powers Administration City Charter Rule Adopted  Action details Meeting details Not available
11/15/2023AKeith Powers City Council Sent to Mayor by Council  Action details Meeting details Not available
11/15/2023AKeith Powers City Council Approved by CouncilPass Action details Meeting details Not available
11/15/2023*Keith Powers Committee on Governmental Operations Hearing Held by Committee  Action details Meeting details Not available
11/15/2023*Keith Powers Committee on Governmental Operations Amendment Proposed by Comm  Action details Meeting details Not available
11/15/2023*Keith Powers Committee on Governmental Operations Amended by Committee  Action details Meeting details Not available
11/15/2023AKeith Powers Committee on Governmental Operations Approved by CommitteePass Action details Meeting details Not available
6/7/2023*Keith Powers Committee on Governmental Operations Hearing Held by Committee  Action details Meeting details Not available
6/7/2023*Keith Powers Committee on Governmental Operations Laid Over by Committee  Action details Meeting details Not available
5/5/2022*Keith Powers City Council Introduced by Council  Action details Meeting details Not available
5/5/2022*Keith Powers City Council Referred to Comm by Council  Action details Meeting details Not available

Int. No. 348-A

 

By Council Members Powers, Yeger, Joseph, Abreu, Sanchez, Ung, Brannan, Rivera, Riley, Velázquez, Brooks-Powers and Gennaro

 

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 3-702 of the administrative code of the city of New York is amended by adding a new subdivision 24 to read as follows:

24. The term “bank fees” means fees charged by a banking or financial institution to demand deposit account holders for regular use or maintenance of an account, including check fees, monthly fees, overdraft fees, and wire fees.

§ 2. 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 bank fees and for credit card processing fees for contributions received by the candidate and their principal committee shall not be limited by the expenditure limitation of paragraph a of subdivision 1 of this section.

§ 3. This local law takes effect immediately and shall apply to any expenditure made prior to the effective date in furtherance of an election that occurs after November 7, 2023.

 

 

Session 12

CJM/JG

LS #7758

11/06/2023 5:35 PM

 

Session 11

NAB

LS #9528

Int. 1456-2019